Report: Tax refunds keep Arkansas revenue down in April - KAIT Jonesboro, AR - Region 8 News, weather, sports

Report: Tax refunds keep Arkansas revenue down in April

(Source: AP Graphics Bank) (Source: AP Graphics Bank)

LITTLE ROCK, Ark. (AP) - Arkansas finance officials say a higher than expected amount of tax refunds paid out kept the state's revenue in April below forecast and below the same month last year.

The state Department of Finance and Administration said Wednesday the state's net available revenue in April totaled $657.1 million, which is $3.8 million below the same month last year and $15.7 million below forecast. The state's net revenue for the fiscal year that began July 1 totals nearly $4.6 billion, which is $53.8 million above forecast.

The state paid out $119.1 million in individual income tax refunds last month, $20.9 million more than April 2017 and $19.1 million higher than forecast.

State sales tax collections in April were above forecast and the same month a year ago.

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