Indiana state revenues for April come in ahead of projections

Downtown Indianapolis skyline at twilight.

Personal tax filing season drove up state revenues for April.  

The State Budget Agency reported general fund revenues for April totaled $3,329.6 million, which is $496.9 million or 17.5% above Dec. 16 estimates and $1,099.2 million or 49.3% above revenue in April 2021.

The state said better-than-expected collections from individual income taxes fueled April’s strong performance.  

Sales tax collections totaled $884.5 million for April, which was $52.9 million or 5.6% below the monthly estimate but $12.2 million or 1.4% above revenue in April 2021.

Gasoline use tax monthly collections came in $1.2 million above the monthly estimate and $500,000 or 3.1% above prior year actuals.  

Individual income tax collections totaled $1,981.4 million for April, which was $599.6 million or 43.4% above the monthly estimate and $1,041.1 million or 110.7% above revenue in April 2021.

Corporate tax collections totaled $352.3 million for April, which was $31.4 million or 8.2% below the monthly estimate but $65.6 million or 22.9% above revenue in April 2021.

Riverboat wagering collections totaled $46 million for April, which was $7.2 million or 18.7% above the monthly estimate and $6.7 million or 16.9% above revenue in April 2021.

Author

  • Larry Avila
    Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila is a Michigan native and a graduate of Central Michigan University.
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