LITTLE ROCK — Arkansas revenues continued to rebound in November, coming in above forecast for the second month in a row after falling short of projections for the first three months of the fiscal year.
Net available general revenues last month totaled $380.7 million, which was up $6.1 million, or 1.6 percent, from November 2015 and $12.6 million, or 3.4 percent, above forecast, the state Department of Finance and Administration said Friday.
The agency said that for the second month in a row, individual and corporate income tax collections exceeded the forecast.
Individual income tax collections in November totaled $202.2 million, which was down $11.2 million, or 5.3 percent, from a year ago but $1.6 million, or 0.8 percent, above forecast.
Corporate income tax collections last month totaled $10.4 million, which was up $2.8 million from November 2015 and $2.7 million above forecast.
November sales tax collections totaled $184.5 million, which was down $400,000, or 0.2 percent, from a year ago and $8.7 million, or 4.5 percent, below forecast.
For the fiscal year that began July 1, net available general revenues to date total $2.15 billion, which is up $35 million, or 1.7 percent, from a year ago and $10.6 million, or 0.5 percent, below forecast.