Arkansas finance officials say a rise in individual income and sales tax collections helped push the state's revenue in December above expectations and the same month in 2016.
The Department of Finance and Administration said Wednesday the state's net available revenue in December totaled $521.1 million, which is $53.7 million above December 2016 and $23.7 million above forecast. The state's revenue so far for the fiscal year that began July 1 totals nearly $2.7 billion, which is $23.7 million above forecast.
The state's individual income tax collections last month totaled $262.7 million, which is $28.8 million above December 2016 and $11.5 million above forecast. Sales tax collections totaled $220.1 million, which is $17.2 million above December 2016 and $10.2 million above forecast.
