![]() Public sector net debt excluding public sector banks and the Bank of England (PSND ex BoE) was £1,994.3 billion at the end of November 2021 or around 82.7% of GDP. Public sector net debt excluding public sector banks (PSND ex) was £2,317.7 billion at the end of November 2021 or around 96.1% of gross domestic product (GDP), the highest ratio since March 1963 when it was 98.3%. PSNB ex was estimated to have been £136.0 billion in the financial year-to-November 2021 this was the second-highest financial year-to-November borrowing since monthly records began in 1993, £115.8 billion less than in the same period last year. Corporate income tax revenue was $40.5 million, up $16.1 million compared with March 2021 and $25.9 million above forecast.Public sector net borrowing (excluding public sector banks, PSNB ex) was estimated to have been £17.4 billion in November 2021 this was the second-highest November borrowing since monthly records began in 1993, £4.9 billion less than in November 2020. Sales and use tax revenue in March was $283.3 million, up 33.2% compared with March 2021 and 23.3% above the forecast. Individual income tax revenue was $312.2 million, up 9% over March 2021 and 34.9% above the budget forecast. Gross revenue in March was $691.5 million, up 21.4% compared with March 2021 and 30.7% above forecast. Motor Vehicle Sales Tax was down 6.8 percent from last year, largely because of the spike in vehicle sales and collections from last March,” John Shelnutt, DFA administrator of economic and tax research, noted in the report.įiscal year-to-date corporate income tax revenue totaled $448.7 million, up $104.3 million compared with the previous fiscal year and 15.9% above the budget forecast. “Major reporting of Sales Tax displayed large gains compared to year ago in part from comparison with the snow week last year and allowance for the one-month lag in vendor reporting. The sales and use tax has generated $271.5 million of the year-to-date budget surplus. Sales and use tax revenue, an indicator of consumer spending, was $2.335 billion in the first nine months up 13.2% compared with the previous fiscal year and 4.8% over the budget forecast. Individual income tax revenue in the first nine fiscal months was $2.718 billion, up 0.8% from the same period in the previous fiscal year, and 11.4% above the budget estimate. We will closely monitor daily revenue collection throughout April, which is normally our largest month for collection,” DFA Department Secretary Larry Walther noted in a statement.Īrkansas ended fiscal year 2021 (July 2020 – June 2021) with a revenue surplus of $945.7 million thanks in part to the COVID-19 induced shift in a tax filing deadline from June to March that pushed some of fiscal 2020 income tax payments into 2021. Year to date sales tax collection has increased 13.2% from the same period last year. ![]() We are matching and in fact exceeding the stimulus-driven gains made this time last year. ![]() “Revenue gains beat the monthly forecast by a wide margin in March in all major categories. The fiscal year-to-date revenue is $5.898 billion, up 7.6% compared with the same period in 2021 and up 8.4% above forecast, according to Monday’s (April 4) report from the Arkansas Department of Finance and Administration (DFA). Overall gains in tax revenue has boosted the state’s revenue surplus to $456 million. Broad gains in consumer spending helped push Arkansas’ year-to-date (July 2021 to March 2022) tax revenue up 7.6%, with sales tax revenue in March up 33.2% compared with March 2021. ![]()
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