Individual income tax growth boosts Ark. revenue - KATV - Breaking News, Weather and Razorback Sports

Individual income tax growth boosts Ark. revenue

Posted: Updated:

LITTLE ROCK, Ark. (AP) - The Arkansas finance office says higher than expected growth in individual income tax collections boosted the state's revenue above expectation and above last year's numbers in April.

The Department of Finance and Administration said Thursday the state's net available revenues for April totaled $642.8 million. That's $84 million above last year and $79.8 million above forecast. The state's year-to-date revenues total $4.1 billion, which is $163.9 million above forecast.

Most of the revenue growth came from individual income tax collections, which totaled $568.3 million in April. The collections were $102.2 million above last year and $99.7 million above forecast. The department said many filers shifted their income to last year to avoid paying higher federal rates.

Sales tax collections totaled $174.2 million, which was $12 million below forecast.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Three potential cases of respiratory enterovirus D68 in Arkansas

    Three potential cases of respiratory enterovirus D68 in Arkansas

    Friday, September 12 2014 7:22 PM EDT2014-09-12 23:22:07 GMT
    LITTLE ROCK (KATV) – Three samples from three different Arkansas patients are on their way to the Centers for Disease Control in Atlanta after doctors are concerned they have contracted the Enterovirus D68. The virus has already swept 12 states across the Midwest and Southeast. More >>
    LITTLE ROCK (KATV) – Three samples from three different Arkansas patients are on their way to the Centers for Disease Control in Atlanta after doctors are concerned they have contracted the Enterovirus D68. The virus has already swept 12 states across the Midwest and Southeast. More >>
  • ASU Crosses make a comeback on t-shirts

    ASU Crosses make a comeback on t-shirts

    ASU Crosses make a comeback on t-shirts

    Saturday, September 13 2014 6:23 PM EDT2014-09-13 22:23:30 GMT
    JONESBORO (KAIT)--When the Arkansas State University Red Wolves were advised to remove a cross from their helmets that paid tribute to fallen friends, some fans decided to bring the crosses back.More >>
    JONESBORO (KAIT)--When the Arkansas State University Red Wolves were advised to remove a cross from their helmets that paid tribute to fallen friends, some fans decided to bring the crosses back.
    More >>
  • Metro Radar

    Metro Radar