August 5, 2003 - Posted at 7:19 a.m. CDT
LITTLE ROCK, Ark. --Good news from Arkansas financial officers. State revenue was up five-and-a-half percent in July over the same month last year.
The state collected more than 314 (m) million dollars in taxes in July. That's more than 16 (m) million dollars more than July 2002 and about one percent more than expected.
Tim Leathers, deputy director of the Arkansas Department of Finance and Administration, says the results indicate the cash-strapped state is on the right track.
The largest increase came in the area of corporate income tax collections. Arkansas took in about 18 (m) million dollars in July, almost six (m) million more than the July 2002 total.