Final data for Arkansas Taxable Sales in the second quarter are now available. The revisions to the preliminary estimates reported last month were miniscule: The revised figure for June was only 0.05% lower than the estimate. As a result, the summary table for Arkansas Taxable Sales (ATS) and Arkansas Taxable Sales Including Gasoline (ATSIG) are essentially unchanged from the preliminary version.
Preliminary data for July suggest that taxable sales are off to a good start for the third quarter. Compared to a year earlier, ATS was up over 9% in July. Month-to-month volatility has recently been high, but the trend shows continuing growth.
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Arkansas Taxable Sales (ATS) is calculated by the Institute for Economic Advancement to serve as a timely proxy for Arkansas retail sales. The series is derived from sales and use tax data, adjusting for the relative timing of tax collections and underlying sales, changes in tax laws, and seasonal patterns in the data. Arkansas Taxable Sales Including Gasoline (ATSIG) incorporates data on the state motor fuel tax and gasoline prices from the Oil Price Information Service.
A spreadsheet of the data is available here: Arkansas Taxable Sales 2013:Q2 (Excel file)