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State revenue modestly above forecast, Bureau of Legislative Research reports
Summary
Carlos Silva of the Bureau of Legislative Research told the Arkansas Legislative Council that December gross collections reached $4.02 billion and net available for distribution was about $3.4 billion — slightly above last year and the current forecast; members pressed staff on corporate tax timing and tariff effects.
Carlos Silva, staffer with the Bureau of Legislative Research, told the Arkansas Legislative Council that December 2025 gross collections totaled about $4,020,000,000 and that net general revenue available for distribution (NAC) stood at roughly $3,400,000,000, about $73.4 million (2.2%) higher than the same point last fiscal year.
Silva said the year-to-date collections are approximately $4.9 million, or 1.2%, higher than the first six months of the prior fiscal year. He cautioned that the net available for distribution had slipped by around $5.8 million compared with last month, primarily because corporate income tax refunds were slightly higher than anticipated. "A portion of it it's part of the extension because we have until the December 3," Silva said when asked about timing of corporate payments.
Members asked whether changes to the throwback rule or international tariffs were driving the corporate tax movement. Representative Wootton asked specifically whether the throwback rule change explained the drop; Silva replied that timing and payment extensions explain part of the movement and that tariff pass-throughs are most likely to show up through sales tax collections. Silva noted gross receipts taxes remain relatively strong — about 2.9% for the month and 3.2% for the fiscal year — and that the Division of Finance and Administration will provide an updated forecast in the coming weeks.
The committee thanked Silva and had no further questions at the close of the presentation. The revenue briefing will be followed by the updated F&A forecast when it is released.
