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Arkansas October revenues surpass forecasts

9-24-2024_young-voters-workshop-2024
9-24-2024_young-voters-workshop-2024

Arkansas’ general revenues for October outpaced state forecasts, signaling ongoing economic stability, according to the Department of Finance and Administration.

Gross general revenues totaled $629.4 million, up $10.8 million from the forecast and $1.1 million higher than a year ago. Net available general revenues reached $503.5 million, exceeding projections by $16.6 million and up 2.9% from last year.

“October revenue collections exceeded forecast for gross revenues by $10.8 million and net revenues by $16.6 million,” said DFA Secretary Jim Hudson. “Wage withholding for personal income taxes was strong, growing year over year by 5.7%, and indicating continued strength in the state’s labor market.”

Sales and use tax collections climbed to $304.3 million, 3% above forecast and 2.1% higher than last year, while corporate income tax collections rose by $1.4 million from a year ago and $4.1 million above expectations.

Through the first four months of fiscal year 2026, net available revenues total $2.27 billion — about $90 million above forecast and nearly 2% higher than the same period last year — which Hudson said “points to stability in state revenues.”


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