Higher than expected collections from sales tax, individual income tax and corporate taxes have provided a boost to Indiana state revenues.
Better-than-expected collections from sales tax, individual income taxes, and corporate taxes provided a boost to Indiana state revenues for August.
The Indiana State Budget Agency reported general fund revenues for April totaled $2,230.4 million, which is 4.3% above state estimates for the month.
The State Budget Agency reported general fund revenues for March totaled $1,161.3 million, which was $29.4 million or 2.6% above the Dec. 16 estimate.
Better than expected collections from sales taxes, income and corporate taxes contributed to Indiana exceeding revenue projections for January.
The state of Indiana brought in more tax revenue in December than it originally projected.
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.