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VOL. 127 | NO. 216 | Monday, November 5, 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 This material may not be published, broadcast, rewritten or redistributed.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 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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