LITTLE ROCK — Finance officials say Arkansas' revenue is $44.1 million higher than expected halfway through the fiscal year after corporate tax collections boosted the state's coffers last month.
The Department of Finance and Administration said Monday that December's net available revenue totaled $482.8 million: $10.7 million higher than December 2013 and $19.3 million above forecast. The state's revenue for the fiscal year, which began July 1, totals nearly $2.6 billion.
Revenue last month was boosted primarily by corporate income tax collections that were $21.7 million above December 2013 and $21.1 million above forecast. Sales and individual income tax collections were both below forecast last month.
The report is the final one before the Legislature convenes for this year's session and incoming Republican Gov. Asa Hutchinson is sworn in next week.
