February State Revenue Exceeds Forecast

(photo courtesy of Dan McGowan)

The Indiana State Budget Agency says the state’s General Fund revenues in February came in at just over $1 billion, which is nearly 17% above estimates and 11% higher than actual revenue in the same month last year.

The agency says sales tax collections totaled $695 million last month, which is nearly 10% above the monthly estimate.

Indiana recorded below-estimate levels in both riverboat and racino wagering collections. For the month, riverboat wagering tax collections came in nearly 40% below revenue in February 2020, the last month before the state went into COVID lockdown.

Year-to-date General Fund revenues totaled $11.7 billion, which is 3.5% above the December 2020 revenue forecast.

Click here to view the monthly revenue report.