Better-than-expected sales tax collections contributed to higher-than-estimated revenues for the state of Indiana.
Better than expected collections from individual income and corporate taxes are credited for boosting state revenues in May.
The State Budget Agency reported general fund revenues for April totaled $3.3 billion.
Better than expected collections from sales, corporate and gaming taxes translated to strong revenue performance for the state in March.
Better than expected collections from individual income and corporate taxes were among the reasons for Indiana’s strong revenue performance in February.
The Indiana State Budget Agency reported November general fund revenues were 6.2% above April 15 estimates.
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.
Deferred income tax payments from April and June gave the state’s general revenue fund a boost.
Delayed income tax payment collections gave the state of Indiana a revenue boost in July.