LITTLE ROCK — Arkansas tax collections were 2.1 percent below forecast in March and 0.6 percent above last year, the state Department of Finance and Administration reported Tuesday.
The DF&A report said the decline was driven by a rebound in income tax refunds this month, combined with sales tax and individual income tax collections that were below forecast.
“This month we are down, which is unusual in the income tax side, but that may well just be an anomaly that rights itself next month,” DF&A Director Richard Weiss said. “I’m not worried about that right now. We expected refunds to be high, but they’re not as high as we expected them to be. All of this is pretty much going forward in the area we forecast.”
April collections totaled $346.4 million, 15.5 million or 4.2 percent below the monthly forecast, and $9.9 million or 2.8 percent below last year.
March sales tax collections totaled $107.5 million, which was $9.3 million or 5.2 percent below the monthly forecast and $2.1 million or 1.2 percent below last year.
Individual income tax collections totaled $219 million in March, which was $6.6 million or 2.9 percent below the monthly forecast and $2.8 million or 1.3 percent below last year.