LITTLE ROCK, Ark. – August revenues for Arkansas were $49 million above forecast in the latest Department of Finance and Administration report.
The $49 million is 8.1% above forecast, the report states, while total general revenue intake is 8% above the same time last year at $653.1 million.
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The report continues that net available general revenue, reflecting general revenue after accounting for various deductions and specific requirements, was $568.7 million for the month, 10.2% higher than a year ago and 8.9% above forecast.
The report’s authors attributed the increases to above-forecast revenue in individual and corporate income tax of $263.1 million and $5.5 million, respectively, in what was usually a low collection month in those two categories. They also stated that sales tax collections of $322.9 million were above forecast and year-ago levels…