LITTLE ROCK (AP) — Arkansas’ finance office on Tuesday said the state’s surplus for the current fiscal year has grown to nearly $717 million.

The Department of Finance and Administration said the state’s net available general revenue for the fiscal year that began July 1 now totals nearly $5.5 billion. That’s more than $651 million more than the state reported at the same time a year ago, the department said.

The state’s net revenue in April totaled nearly $780 million, which was $242 million above the same month last year and nearly $167 million more than was forecast.

The department said net available revenue was above forecast in nearly all major tax categories last month. Individual income tax collections were $2.3 million above forecast, while sales tax collections were $81.7 million above forecast.

Corporate income tax collections were $63.2 million above forecast.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.