LITTLE ROCK — Arkansas revenues continued to rebound in December, coming in above forecast for the third month in a row after falling short of projections for the first three months of the fiscal year.
Revenues for the fiscal year to date continue to be below forecast, however, the state Department of Finance and Administration said.
Net available general revenues last month totaled $467.4 million, which was up $3.2 million, or 0.7 percent, from December 2015 and $1.8 million, or 0.4 percent, above forecast.
DFA said sales tax collections exceeded the forecast in December, but individual and corporate income tax collections fell short of projections.
Sales tax collections last month totaled $202.9 million, which was up $16.5 million, or 8.9 percent, from December 2015 and $8.1 million, or 4.2 percent, above forecast.
Individual income tax collections in December totaled $233.9 million, which was up $3.3 million, or 1.4 percent, from a year ago but $3.1 million, or 1.3 percent, below forecast.
Corporate income tax collections last month totaled $62.5 million, which was down $18 million from December 2015 and $5.6 million below forecast.
For the fiscal year that began July 1, net available general revenues to date total $2.62 billion, which is up $38.2 million, or 1.5 percent, from a year ago but $8.8 million, or 0.3 percent, below forecast.