May State Revenue Misses Projections

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The agency says general fund revenues were $70.9 million below the December 2017 estimate. The agency says general fund revenues were $70.9 million below the December 2017 estimate.
INDIANAPOLIS -

Indiana state revenue last month came in more than 6 percent below the latest estimate. The Indiana State Budget agency says the $1.07 billion total is also more than 10 percent below collections during the same month last year.

The agency says general fund revenues were $70.9 million below the December 2017 estimate, and $126.8 million below May 2017 revenue. Year-to-date, collections remain $17.5 million above the most recent estimate and $176.6 million above collections through the same period the previous fiscal year.

The state reports sales tax and riverboat wagering collections were below the most recent estimate and May 2017 revenue. Individual income tax, corporate tax and racino wagering collections were below the latest estimate and the May 2017 collections.

You can see the full report by clicking here.

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