Jul 10, 2023 - Business
How much Arkansas collected in booze taxes last year
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Maybe it's drowning sorrows about economic uncertainty, perhaps it's celebrating the state's all-time low unemployment, or maybe everyone's hitting the lake. Whatever the reason, Arkansans bought a lot more alcohol this spring.
- Tax collections on booze leaped by 50% — from $6 million at the end of April to $9 million at the end of June, according to the Department of Finance and Administration.
Driving the news: The agency released the numbers last week, showing that the state closed fiscal 2023 with a surplus of more than $1.16 billion.
The impact: The money is used to pay for government, infrastructure, education, public assistance, corrections, Medicaid and transportation.
By the numbers: June collections for alcohol and tobacco sales added up to $9 million and $17.9 million, respectively.
- For the fiscal year that ended June 30, consumers forked out $76.2 million in alcohol taxes and nearly $206 million in tobacco taxes.