Lack of tax refunds pushes state revenue up
By The Associated Press
This article was originally published March 4, 2013 at 10:30 a.m. Updated March 4, 2013 at 11:07 a.m.
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State finance officials say a lack of individual income-tax refunds last month helped push Arkansas’ revenue above officials' expectations and above last year’s numbers.
The Department of Finance and Administration on Monday said the state’s net available revenue in February totaled $210.1 million. That’s $20 million above last year and $15.7 million above forecast. The state’s revenue for the year to date is $99.2 million above forecast.
The department said the results were mainly driven by the relative lack of individual income-tax returns received. Individual income-tax refunds were $4.5 million below last year and $11.6 below forecast.
Sales tax and corporate income-tax collections were above forecast and last year’s figures. Individual income-tax collections were above last year but below forecast.
Read tomorrow's Arkansas Democrat-Gazette for full details.
Comments on: Lack of tax refunds pushes state revenue up
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1soni says... March 4, 2013 at 10:57 a.m.
Most software programs won't file state until after you file federal and everyone was told to hold up on filing your federal returns. I suspect that there will be a delay this month when folks find that they owe more than last year.
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fasttony46 says... March 4, 2013 at 11:54 a.m.
Only the poor will know the end of hunger and strife ! In the meantime the machine rolls on!
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HarleyOwner says... March 4, 2013 at 12:01 p.m.
Using Turbo Tax I got a refund from the state last year. This year I didn't and everything reported was about the same.
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