- Associated Press - Tuesday, November 3, 2015

LITTLE ROCK, Ark. (AP) - Arkansas finance officials say strong sales and income tax collections in October kept the state’s revenue above forecast and above the same month last year.

The Department of Finance and Administration on Tuesday said the state’s net available revenue last month was $405.9 million. That’s $3.1 million above the same month last year and $13.6 million above forecast.

The state’s net available revenue for the fiscal year that began July 1 is $1.7 billion, which was $17.5 million above the same point last year and $63.5 million above forecast.

Arkansas collected $233.8 million in individual income taxes, which was $3.7 million above October 2014 and $18.5 million above forecast. Sales tax collections totaled $193.6 million, which was $9.6 million above October 2014 and $6 million above forecast.

___

This story has been corrected to note in the second paragraph that the net available revenue of $405.9 million was from last month, not last year.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide