Arkansas finance officials say strong individual income tax collections and lower than expected tax refunds kept the state's revenue in April above both the forecast and the same month last year.
The Department of Finance and Administration reported Tuesday that the state's net available revenue in April totaled $661.3 million. That's $37.2 million above April 2015 and $37.1 million above forecast.
The net available revenue for the fiscal year to date totals nearly $4.9 billion, which is $110 million above forecast.
Individual income tax collections totaled $505.3 million, which was $4.8 million below the same month last year and $4.8 million above forecast. Sales tax collections were above the same month last year, but below forecast. Corporate income tax collections were below forecast and below April 2015 figures.
