Arkansas tax revenue dips, prompting adjustments in forecasts

Arkansas tax revenue dips, prompting adjustments in forecasts

Department of Finance and Administration Secretary Jim Hudson (left) and State Budget Director Robert Brech answer questions about the 2025 state budget from lawmakers on Nov. 21, 2024. (Mary Hennigan/Arkansas Advocate)Arkansas’ chief financial officer on Thursday attributed a $374.2 million decrease in net available revenue for the current fiscal year to a tax deadline extension due to severe weather and tax cuts in recent years. Members of the…

Arkansas tax revenue dips, prompting adjustments in forecasts - Conduit News Arkansas

by Antoinette Grajeda, Arkansas AdvocateMay 22, 2025 Arkansas’ chief financial officer on Thursday attributed a $374.2 million decrease in net available revenue for the current fiscal year to a tax deadline extension due to severe weather and tax cuts in recent years. Members of the Arkansas Legislative Council questioned Department of Finance and Administration Secretary Jim Hudson about a revised general revenue forecast released Wednesday tha…