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Arkansas' general revenue tax collections in February exceeded state's forecast by $62.6M

by Rachel Herzog | March 2, 2022 at 12:33 p.m.
The Arkansas flag is shown in this file photo.

Arkansas' general revenue tax collections in February increased by $34.9 million, or 7.1% over last year, to $528.5 million.

Last month's tax collections exceeded the state's forecast by $62.6 million, or 13.4%.

The state's individual income collections topped the state's forecast by $55.9 million, or 26.8%, totaling $264.8 million for February. 

John Shelnutt, the state's chief economic forecaster, said those numbers, reported in this month's revenue report from the state Department of Finance and Administration, reflects a rebound in the state economy in some sectors that are pushing up the overall growth rate.

"It still reflects a strong economy in the state both in labor markets and in consumption," he said.

Read Thursday's Arkansas Democrat-Gazette for the full story.




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