Arkansas tax revenue in December, the sixth month of the fiscal year, was $605.9 million, 2.8 percent above last year and 1.5 percent above the forecast on which the state budget is based.
Through the first half of the year, gross revenues are ahead of forecast by .7 percent. Net revenue (effectively the surplus after mandatory distributions) was $17 million or .6 percent ahead of forecast. The budget also includes some unspent rainy day and other unallocated money, however.
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Key points: Sales tax and individual income tax collections in December fell below forecasts, with sales taxes actually less than the amount collected last year.
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