LITTLE ROCK — After falling below projections for the first three months of the fiscal year, Arkansas revenues were above forecast in October, the state’s fiscal office said Wednesday.
Net available general revenues last month totaled $439.1 million, which was up $33.2 million, or 8.2 percent, from October 2015 revenues and 2.1 percent above forecast, the state Department of Finance and Administration said.
The agency said individual and corporate income tax collections drove the improved revenue numbers.
Individual income tax collections in October totaled $256 million, which was up $22.2 million, or 9.5 percent, from a year ago and $2.1 million, or 0.8 percent, above forecast.
Corporate income tax collections last month totaled $41 million, which was up $10.5 million from a year ago and $17.9 million above forecast.
Sales tax collections in October totaled $198.6 million, which was up $5 million, or 2.6 percent, from a year ago and $3.7 million, or 1.8 percent, below forecast.
For the fiscal year that began July 1, net available general revenues to date total $1.77 billion, which is up $28.9 million, or 1.7 percent, from a year ago and $23.2 million, or 1.3 percent, below forecast.