Arkansas general revenues declined almost 4% in the first month of fiscal 2010 from a year earlier, marking the seventh month in the last eighth in which revenue failed to match the previous year.
July revenues totaled $406.3 million, down $5.8 million from the forecast and $16.4 million less than in July 2008. Collections last year were the highest ever for the month of July, at $422.6 million.
The Department of Finance and Administration said individual income taxes and sales tax revenue fell from July 2008 levels.
Gross receipts taxes, which include sales and use taxes, generated $172.9 million in July, down $15.9 million from July 2008 and $18 million less than expected. Vehicle sales tax revenue fell $3.8 million from last year.
Individual income tax collections totaled $173.8 million, down $5.4 million from July 2008, and were $5.5 million below the prediction.
General fund revenues for fiscal 2009 totaled $4.4 billion.
