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Wednesday, December 4, 2024

Arkansas collects $132 million in license tax revenue in Q2

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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

Arkansas collected $132 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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 $3.8 billion in combined tax revenues in Q2.

Q2 Arkansas Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,214
License Taxes$132
Other Taxes$47
Property Taxes$523
Sales and Gross Receipts Taxes$1,854

Source: U.S. Census Bureau

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