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Wednesday, December 25, 2024

Arkansas’ license tax revenue down 8.7 percent in Q3 since the previous quarter

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Arkansas collected $105 million in license taxes during the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is an 8.7 percent decrease from the previous quarter when license tax revenue was $115 million.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Arkansas collected $2.8 billion in combined tax revenues during the third quarter of 2021.

Q3 Arkansas Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$105
Income Taxes$1,031
Other Taxes$51
Property Taxes$120
Sales and Gross Receipts Taxes$1,507

Source: U.S. Census Bureau

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