March Revenue Higher Than Forecast In Arkansas

Apr 4, 2016

Net available general revenue is more than 3 percent above where it was this time last year, and nearly $73 million  higher than expected. 

That's according to a report released Monday by the Arkansas Department of Finance and Administration  that details March revenue numbers. 

State economist John Shelnutt said the jump is in part because of a growth in sales taxes, and because of refund levels are $44 million lower than last year.

"We saw the continuing benefits of refunds running below forecast which adds to the bottom line, and  that's the same story we saw last month," he said.  "In March alone we saw a rebound in sales taxes," he added. 

According to Shelnutt, Arkansas returns most tax refunds in April, so revenue numbers may keep shifting this spring. Year-to-date net available general revenue is over $3.8  billion.