Arkansas’ revenue nearly $159M above forecast so far

LITTLE ROCK, Ark. (AP) – Arkansas’ finance office on Friday said the state’s revenue has come in nearly $159 million above forecast so far this fiscal year.

The Department of Finance and Administration said the state’s net available revenue in September totaled $591.9 million, which was $12.2 million less than the same month last year and $65.1 million above forecast.

The state’s net available revenue for the fiscal year that began July 1 totals $1.74 billion.

Individual income tax collections last month totaled $320 million, which was $17.8 million less than September 2019 and $48 million above forecast. Sales tax collections in September totaled $231.2 million, which was $21.7 million above the same month last year and $18.7 million above forecast.

Corporate income tax collections totaled $77.6 million, which was $10.5 million less than the same month last year and $1.8 million above forecast.

WebReady^TM Powered by WireReady^® NSI