LITTLE ROCK, AR (AP) - Arkansas finance officials say a boost in sales tax collections and lower than expected tax refunds helped keep the state's revenue ahead of forecast last month.
The state Department of Finance and Administration on Tuesday said net available revenue in February totaled $218.3 million. The amount was $6.2 million above the same month last year and $14.3 million above forecast. The state's net available revenue for the fiscal year that began July 1 is $3.3 billion, which is $94.6 million higher than forecast.
Sales tax collections last month totaled $176.5 million, which were $9.5 million above February 2014 and $8.4 million above forecast. The state paid out $148.4 million in individual income tax collections, which were $15.1 million below February 2014 and $24.8 million below forecast.