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Tuesday, December 24, 2024

Arkansas collected 18.9% less in pari-mutuels sales tax in 2020

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Of the $10.3 billion in taxes collected by Arkansas in 2020, $1.7 million came from pari-mutuels sales tax, an 18.9 percent decrease from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Arkansas collected $2.2 million in pari-mutuels sales tax in 2019.

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by subcategory and how much was collected.

Arkansas Tax Collections 2020 vs. 2019
Type of Tax2020 amount2019 amount
Pari-mutuels sales tax$1,747,000$2,155,000
Corporations net income taxes$469,029,000$533,915,000
Motor vehicle license$170,569,000$168,295,000
Taxes, NEC$54,332,000$35,974,000
Severance taxes$28,962,000$56,035,000
Public utilities license$8,628,000$9,236,000
Alcoholic beverages sales tax$60,539,000$60,210,000
Hunting and fishing license$27,194,000$26,156,000
Motor fuels sales tax$542,943,000$496,131,000
Insurance premiums sales tax$285,337,000$241,403,000
Other license taxes$844,000$2,220,000
General sales and gross receipts taxes$3,691,920,000$3,573,456,000
Amusements license$955,000$933,000
Selective sales and gross receipts taxes$1,445,663,000$1,347,012,000
Alcoholic beverages license$4,540,000$4,870,000
Motor vehicle operators license$24,089,000$22,696,000
Amusements sales tax$53,279,000$71,900,000
Other selective sales and gross receipts taxes$273,297,000$256,562,000
Documentarty and stock transfer taxes$51,505,000$46,610,000
Corporations in general license$27,257,000$30,138,000
Occupation and business license, NEC$127,333,000$139,083,000
Individual income taxes$2,914,939,000$3,012,491,000
Tobacco products sales tax$228,521,000$218,651,000
Source: U.S. Census Bureau

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