Arkansas Revenue Surges Above Expectations In April

May 4, 2015

Arkansas finance officials say a surge in tax collections in nearly every major category last month doubled the amount of money the state has collected above forecast for the year.

The state Department of Finance and Administration on Monday said the state's net available revenue in April totaled $624 million, which is $53.8 million above the same month last year and $82.4 million above forecast.

The state's revenue for the fiscal year that began July 1 is $4.3 billion, which is $163.8 million above forecast.

Finance officials said individual income, sales and corporate tax collections were above forecast and the same month last year. The state also paid out less in individual and corporate income tax refunds last month than expected.