Report: Arkansas revenues dip in March
LITTLE ROCK, Ark. (AP) - Arkansas finance officials say the state's revenues in March dipped below last year's figures and their expectations as tax collections lagged and income tax refunds rebounded.
The Department of Finance and Administration said Tuesday that the state's net available revenues last month totaled $346.4 million, which was $9.9 million below last year and $15.1 million below forecast. The state's revenues for the year to date are above forecast by $84.1 million.
The department said individual income and sales tax collections were below forecast and below the same month last year.
Individual income tax refunds, which had come in lower than expected during the first two months of the year, rebounded in March and were $10.1 million above the same month last year and $5.4 million above forecast.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.