February was another month of mixed results on state revenue, though the total  still came in ahead of last year. The key monthly numbers, including poor results on sales taxes:

February Net Available General Revenues total $212.2 million, $2.0 million or 1.0 percent above last year and $4.7 million or -2.2 percent below forecast.

Results were significantly impacted by: 1) decline in Sales and Use tax compared to year ago and versus forecast, 2) higher-than expected growth in individual refunds due in part to delayed start of the tax filing season in January, and 3) a positive contribution from temporary effects of payroll timing for Individual Withholding tax.

Sales and Use tax collections in February largely reflect economic activity in January. Weather effects on collections were noted in the retail sector.

Among other revenue categories, corporate Income tax was below year ago and forecast in an otherwise low-activity month and Tobacco tax collections were down sharply.

February Gross General Revenues: February collections total $427.3 million, an increase of $16.0 million or 3.9 percent from last year and $3.0 million or -0.7 percent below forecast.

Advertisement

Help to Keep Great Journalism Alive in Arkansas

Join the fight for truth and become a subscriber of the Arkansas Times. We've been battling powerful forces for 50 years through our tough, determined, and feisty journalism. With over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 daily email blasts, our readers value great journalism. But we need your help to do even more. By subscribing and supporting our efforts, you'll not only have access to all of our articles, but you'll also be helping us hire more writers to expand our coverage. Together, we can continue to hold the powerful accountable and bring important stories to light. Subscribe now or donate for as little as $1 and be a part of the Arkansas Times community.

Previous article Little Rock Horror Picture Show to screen ‘Metropolis’ with live score Next article Hank Williams Jr., Salt-N-Pepa and Buckcherry announced as 2014 Riverfest headliners