State general revenue in October increased by $44.4 million over a year ago to $554.4 million and exceeded the state’s forecast by $36.8 million.
Arkansas' general tax revenues were fueled last month by rising individual income tax, sales and use tax and corporate income tax collections and reflect the state’s growing economy, state officials said Monday.
Net general revenue available to state agencies increased last month by $35.5 million over October 2018 to $470.9 million and exceeded the state’s forecast by $33.3 million.
October is the fourth month of fiscal year 2020. During the first four months of fiscal 2020, net general revenue has increased by $78.4 million over the same period in fiscal year 2019 to $1.9 billion and exceeded the state’s forecast by $72.2 million.