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Arkansas' combined tax revenues down 15.1% from Q4 to Q1 2023

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Andy Babbitt Arkansas Comptroller at Department of Finance & Administration | Arkansas Department of Finance & Administration

Andy Babbitt Arkansas Comptroller at Department of Finance & Administration | Arkansas Department of Finance & Administration

Combined tax revenues in Arkansas decreased 15.1% in the first quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Arkansas collected $2.9 billion in taxes during the first quarter of 2023, compared to $3.4 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.6 billion) and income taxes ($1 billion).

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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 Arkansas Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,569
Income Taxes$1,015
Property Taxes$141
License Taxes$99
Other Taxes$53
Source: U.S. Census Bureau

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