- Associated Press - Wednesday, December 2, 2015

LITTLE ROCK, Ark. (AP) - Finance officials say larger than expected corporate tax refunds in November pushed Arkansas’ revenue below expectations and below the same month last year.

The Department of Finance and Administration said Wednesday net available revenue last month totaled $374.6 million. That’s $16.5 million below November 2014 revenue and $4.3 million below forecast.

The state’s gross revenue was $462.9 million. That’s $1.7 million below November 2014 but $7.4 million above forecast. It was boosted by $4.45 million from a one-time court settlement and deposit from the attorney general’s office.

The state’s net available revenue for the fiscal year that began July 1 is $59.1 million above forecast.

The state paid out $20.5 million in corporate tax refunds, which was $13.7 million above the same month last year and $12.5 million above forecast.

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