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State Revenues for February Once Again Above Forecast

On Wednesday, March 2, the Arkansas Department of Finance and Administration (DFA) released an updated revenue report for Arkansas that showed continued strength in revenue collections. The report for February exceeded estimates by $62.6 million, which was 13.4% above forecast. In addition, fiscal year to date revenue is up 8.9% above forecast, which results in $293 .8 million above expectations. General revenue tax collections for February were 7.1% above 2021. The growth is largely due to high levels of employment with higher wages and increased consumption as pandemic restrictions have eased.

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