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Wal-Mart still no. 1.

Retailer Earns $1.4 Billion in State in '92

WAL-MART STORES INC. increased its home-state sales by 42 percent in 1992 and again heads Arkansas Business' list of general merchandise retailers.

Wal-Mart stores did an estimated $1.4 billion in sales in Arkansas in 1992, based on the 2 percent sales tax discount it received from the state Department of Finance & Administration. That is up from $1.04 billion in revenues in 1991.

Wal-Mart stores received more than $1.3 million from the 2 percent sales tax discount in 1992. That means Wal-Mart collected more than $67 million in sales tax in Arkansas in 1992.

From the records at the DF&A, it is TABULAR DATA OMITTED impossible to determine the sales tax percentage collected at each store. So, to calculate the estimated revenues for Wal-Mart and every other retailer on our list, Arkansas Business divided the sales tax collected by 4.5 percent. This equation slightly skews the revenue figures on the high side.

The last legislative session overturned the state's 2 percent sales tax discount, which was paid to businesses for returning sales tax collected each month to the state by the 20th of the following month. The maximum discount any one business now can receive is $1,000 a month.

Because the 2 percent discount has been discontinued, Arkansas Business is also publishing a list of the state's top 35 businesses, ranked by the sales tax discount each received for the past three years.
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Title Annotation:includes table of top 35 businesses in Arkansas; Wal-Mart Stores Inc.
Author:Smith, David (American novelist)
Publication:Arkansas Business
Date:Oct 11, 1993
Words:247
Previous Article:Media saturation.
Next Article:Expanding empire.
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