Delayed tax payments have put a dent in state tax revenues.
Delayed income tax payment collections gave the state of Indiana a revenue boost in July.
Social distancing and other measures to limit public interaction during the coronavirus crisis has led to Indiana state tax collections falling short for March, state officials said.
The Indiana State Budget Agency reported year-to-date general fund collections through December totaled $7,792.7 million, which is $25 million or 0.3% above the December 2019 revised revenue forecast.
The Indiana State Budget Agency reported year-to-date tax collections through November totaled $6,261.3 million, which is $246 million or 4.1% above the April 2019 revised revenue forecast and $215 million or 3.6% above collections through the same period in the prior fiscal year.
The state of Indiana is experiencing better than expected revenues from tax collections.
Tax collections for the state of Indiana are running ahead of previous estimates.
Indiana’s March general fund revenue projections are running ahead of previous estimates.
Higher than expected corporate tax refunds and lower sales and use tax collections are among the reasons officials say state revenues came in lower than projected forecasts. The Indiana State Budget Agency said general fund revenues for February totaled $786.4 million, which is $18.8 million or 2.3 percent below December 2018 revenue forecasts and $25.1 […]
Tax collections for the state of Indiana are running ahead of projections. The Indiana State Budget Agency said Oct. 10 that year-to-date general fund tax collections totaled $3.84 billion through September, which is $126.8 million or 3.4 percent above the December 2017 revised revenue forecast and $249.7 million or 7 percent more than collections through […]