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Report: Boost in sales, income tax collections boost Arkansas revenue in August

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LITTLE ROCK, Arkansas — Arkansas finance officials say a boost in sales and individual income tax collections helped keep state revenue above expectations and last year's numbers.

The Department of Finance and Administration said Wednesday net available revenue in August totaled $421.4 million, a $23.1 million increase over the same month last year and $28 million above forecast.

The state's revenue for the fiscal year that began July 1 is $820.6 million, $19.1 million above the same point last year and $34.8 million above forecast.

Sales tax collections totaled $204.6 million, a $16.4 million increase over August 2014 and $12.7 above forecast. DFA said the collections were helped by several one-time audit payments to the state.

Individual income tax totaled $215.2 million, $6 million above August 2014 and $11.5 million above forecast.

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