Department of Finance General Revenue Report: All major collection categories above forecast in July

Finance

LITTLE ROCK, Ark.- The State of Arkansas Department of Finance and Administration released the General Revenue Report for July (FY 2021) Tuesday.

According to the report, “All major collection categories were above forecast in July, led by Sales Tax at $32.5 million above, Corporate Income at $23.7 million above, and Individual Income at $17.6 million above.”

The sales tax collection in July was $207.5 million or 89.3% more than the same time last year due to the 2020 tax filing date moved to July, according to officials.

The Net Available Revenue is $52.7 million above the monthly forecast after one month into the 2021 fiscal year, according to the report.

To read the full report, click the button below.

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