Arkansas’ February net available general tax collections were $190.1 million, down $24 million, or 11 percent, from the same month last year as individual tax refunds exceeded expectations, the state Department of Finance Administration reported Friday.
Tax refunds exceeded forecast by $33.6 million. In all, Februrary collections came in $22.6 million, or 10.6 percent, below forecast.
Also in February, gross receipt collections, mainly a measure of sales tax collections, reached $167.9 million, up 3.4 percent from the same time last year. That figure was also 0.2 percent above forecast.
Meanwhile, year-to-date net available general tax collections reached $2.9 billion as of February, up 1.8 percent above year-ago levels and 0.7 percent above forecast.
Year-to-date gross receipt collections reached $1.4 billion, up 1.3 percent from fiscal 2011 and 1.7 percent below forecast.
ArkansasBusiness.com will update this story.
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