Arkansas state revenue came in above forecast last month. Little Rock Public Radio's Daniel Breen explains.
The latest report from the Arkansas Department of Finance and Administration shows net available general revenues totaled roughly $726 million in September. That's about 14% higher than the same time last year and 11% above the state's forecast.
Individual income tax collections were up by about $5 million compared to last year and also beat the state's expectations. Withholding tax revenue fell by about 9%, mainly due to new income tax cuts retroactive to Jan. 1.
Sales and use tax collections were also strong, with particular growth in utilities and wholesale trade. Increases were also seen in corporate income tax collections and refunds.
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