In 2024, Arkansas generated $12.7 billion in total tax revenue, of which $36.4 million was derived from severance taxes. This amount is down from $98.4 million in severance taxes collected the year before, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).
The State Government Tax Collections (STC) survey tracks five major tax categories and up to 25 subcategories, gathering data from all 50 state governments and their dependent agencies.
The Census Bureau notes that it defines tax classifications consistently across states, which may differ from how individual states categorize them…