Arkansas state general revenue collections in March were down for the third month in the past four, with declines in individual income tax and sales tax collections.
The Department of Finance and Administration said revenue in March was $454.7 million, down $14.5 million from March 2008 and $4.3 million less than expected.
Gross revenue was $4 billion in the first nine months of fiscal 2009, $81 million over the same period in fiscal 2008 and $78.3 million more than estimated.
Net revenue, after off-the-top transfers and taxpayer refunds, is $3.2 billion so far in fiscal 2009, the department said in its monthly revenue report. That’s $24.6 million more than in the same period of fiscal 2008 and $20.1 million more than expected.
Net revenue in March was $299.5 million, or $43.5 million below March 2008 and $20.1 million below the latest forecast.