Report: Rise in sales, income tax collections boost Arkansas' revenue November

Markets Associated Press

Arkansas finance officials say a rise in sales and income tax collections last month pushed the state's revenue above last year's figures and expectations.

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The Department of Finance and Administration on Tuesday said the state's net available revenue in November totaled $391.1 million, which was $41.4 million above the same month last year and $24.8 million above forecast.

The state's revenue for the fiscal year that began July 1 totaled $2.1 billion, which is $24.8 million above forecast.

The department said individual income tax collections totaled $227.1 million, which was $29.4 million above the same month last year and $12.2 million above forecast. Sales tax collections totaled $180.5 million, which was $5.3 million above the same month last year and $700,000 above forecast.