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Arkansas Revenue Stays Above Expectations In September

LITTLE ROCK, Ark. (AP) — Arkansas’ finance office says the state’s revenue in September exceeded the same month last year and remained above expectations. The D...
Arkansas

LITTLE ROCK, Ark. (AP) — Arkansas’ finance office says the state’s revenue in September exceeded the same month last year and remained above expectations.

The Department of Finance and Administration on Wednesday said the state’s net available revenue in September totaled $604.1 million. That’s $34.5 million above the same month last year and $31.4 million more than forecast.

The state’s net available revenue for the fiscal year that began July 1 totaled $1.5 billion, which is $38.9 million above forecast.

Individual and corporate income tax collections in September were above the same month last year and higher than the forecast. Sales tax collections were slightly above September 2018 but below the forecast for the month. The state last month paid out less in individual income tax refunds than was forecast.