Report: Arkansas Revenue Below Forecast In November

Dec 3, 2013

Arkansas finance officials say the state's revenue in November didn't meet last year's figures or their predictions for this year.

The Department of Finance and Administration said Tuesday that the state's net available general revenue last month totaled $349.7 million. That's just under $1 million less than the same month last year and $8.4 million below forecast.

The state's revenue for the fiscal year that began July 1 is $29.4 million above forecast.

The department said the November numbers were affected by swings in corporate income taxes. Gross collections in corporate tax income were $4.2 million below forecast and 41.6 percent below last year's levels. Corporate refunds, meanwhile, were $2.6 million above expectations and 36.6 percent above last year's levels.