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VOL. 127 | NO. 216 | Monday, November 05, 2012

Arkansas Revenues Dip in October

AP

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LITTLE ROCK, Ark. (AP) – Arkansas finance officials say weak sales and income tax collections pushed the state's revenues in October below last year's figures and their predictions.

The Arkansas Department of Finance and Administration said Friday that the state's net available revenues in October totaled $355.6 million. That's $9 million below last year and $21.6 million below forecast.

The state's revenues for the fiscal year that began July 1 are $20.5 million above forecast.

The department said the dip was driven mainly by a temporary downswing in individual income tax from payroll timing in withholding tax. Individual income tax collections were below last year by $10.7 million and $2.3 million below forecast.

Sales tax collections were $1.1 million below last year's figures and $8.3 million below forecast.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 74 312 10,190
MORTGAGES 103 400 13,275
FORECLOSURE NOTICES 16 76 2,614
BUILDING PERMITS 221 783 24,307
BANKRUPTCIES 72 299 9,832
BUSINESS LICENSES 39 110 3,713
UTILITY CONNECTIONS 129 519 14,482
MARRIAGE LICENSES 13 81 3,144

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