State Revenues Slow After Grocery Tax Cut

LITTLE ROCK, AR - A state report shows that Arkansas' revenues dipped by seven percent in July as the state enacted cuts in the state sales tax on groceries and the tax manufacturers pay on utilities.

The state reported yesterday that net available revenues totaled $351.6 million in July, $26.8 million below last year.  That figure, however, was still $11.1 million, or three percent, above the state's forecast.

The state reported that sales tax collections totaled $179.2 million last month, a decrease of $7.8 million, or 4.2 percent, below last year.  The sales tax collections were below the state's forecast by $1.6 million, or nearly 1 percent.

(The Associateed Press contributed to this report.)