Indiana revenue exceeded the most recent projections in April. The Indiana State Budget Agency says General Fund revenues totaled more than $2.2 billion last month, more than 4 percent higher than the revised revenue forecast released April 17 and more than 11 percent higher than the same month last year.
Individual income tax collections, corporate tax collections and both riverboat wagering and racino wagering collections were all above the monthly estimate. Only sales tax collections were below projections, down 0.7 percent.
"Overall, for the month of April, higher than expected collections from individual income, corporate, interest, insurance, gaming and cigarette taxes and fees combined to drive revenues above estimates and prior year both on a monthly and fiscal year-to-date basis," the agency said.
Year-to-date, the state has collected more than $13 billion, which is only eight-tenths of a percent higher than the revenue forecast and 5 percent above collections through the same period in the previous fiscal year.
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