[Fox News] Arkansas exceeds revenue expectations by nearly $16M at start of fiscal year

Read Time:49 Second

Arkansas finance officials on Wednesday said the state’s revenue has come in nearly $16 million above forecast at the start of the fiscal year.

The Department of Finance and Administration said net available revenue in July totaled $553.3 million, which was $11.3 million above the same month last year and $15.9 million above forecast. Arkansas’ fiscal year began July 1.

ARKANSAS FISHERMAN PULLS 165-POUND PADDLEFISH ONTO SHORE: ‘FISH OF A LIFETIME’

The state ended the last fiscal year with a $1.1 billion surplus, the second largest in the state’s history, the department announced last month. Republican Gov. Sarah Huckabee Sanders last month said she hasn’t ruled out calling a special session to take up additional tax-cut proposals because of that surplus.

The department said the state’s individual income and sales tax collections came in higher than the same month last year and above forecast. Corporate income tax collections came in below July 2022 figures, but above forecast.

Read More 

About Post Author

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %