Arkansas' net available general revenue for August reached $582.8 million, marking a $14.1 million—or 2.5%—increase compared to the same month last year. The figure also exceeded the state's forecast by $4.5 million, or 0.8%, according to a report released Wednesday by the Arkansas Department of Finance & Administration.
Gross general revenue for the month totaled $667 million, up $13.8 million, or 2.1%, from August 2022, and $2.6 million, or 0.4%, higher than expectations.
Tax revenue from sales and use totaled $327 million, reflecting a year-over-year rise of $4.1 million, or 1.3%. The collections also surpassed forecasts by $900,000, or 0.3%.
Sector-specific performance in August showed significant growth in utilities and real estate rental and leasing sectors. Retail trade, along with accommodation and food services, recorded moderate gains. However, declines were noted in the construction, wholesale trade, and professional services sectors.
The revenue report provides a snapshot of the state’s economic activity as measured by tax collections and serves as a key tool for monitoring financial trends and budgetary stability.