LITTLE ROCK, Ark. — Arkansas finance officials say a decline in motor vehicle sales and business spending pushed the state’s sales tax collections below forecast last month.
The Department of Finance and Administration said Tuesday the state’s net available revenue in September totaled $518.8 million, which was $3.3 million above the same month last year and $7.1 million below forecast. The state’s net available revenue for the fiscal year that began July 1 totals more than $1.3 billion, which is $2.2 million above forecast.
The department said sales tax collections in September totaled $199.4 million, which was $3 million above September 2016 and $5.3 million below forecast. Individual income tax collections were higher than the same month last year but slightly lower than forecast.