Arkansas Starts Fiscal Year With Revenue Ahead Of Forecast

Aug 4, 2015

Arkansas is starting its fiscal year on a positive note, with the state collecting $6.8 million more in revenue than expected.

The Arkansas Department of Finance and Administration said the state's net available revenue in July totaled $399.2 million.

The state's fiscal year began July 1. The state's revenue was $3.9 million less than the same month last year.

Arkansas' sales tax collections totaled $193.1 million, which was $7.6 million more than the same month last year and $3.9 million more than originally forecast. Individual income tax collections totaled $200.9 million, which was $12.4 million less than the same month last year and $800,000 above forecast.

Corporate income tax collections totaled $20.4 million, which was $2 million more than the same month last year and $6.3 million below forecast.