Arkansas revenue up in December, above forecast - KATV - Breaking News, Weather and Razorback Sports

Arkansas revenue up in December, above forecast

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By ANDREW DeMILLO
Associated Press

LITTLE ROCK, Ark. (AP) - Arkansas finance officials say the state's revenues in December beat last year's figures and their expectations, fueled primarily by an increase in individual income tax collections.

The Department of Finance and Administration said Thursday that the state's net available revenues in December totaled $456.5 million. That's $37.8 million above the same month in 2011 and $17.5 million above forecast.

The state's revenues for the fiscal year that began July 1 total $2.4 billion, $90.8 million above the previous year and $22.1 million above forecast.

Department Director Richard Weiss said the increase in individual income tax collections stemmed primarily from December having more pay days than the previous year.

Weiss said the effects of the Christmas snowstorm on sales tax collections won't be reflected until the January revenue report.

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