January State Revenue Tops Estimates

The state is reporting $1.84 billion in general fund collections for April.

State revenue in January topped the latest forecast by more than $85 million. The Indiana State Budget Agency says last month’s total of more than $1.6 billion topped collections in January 2017 by nearly 7 percent.

The SBA reports January sales tax and individual tax were above estimates and the prior year month, while corporate, riverboat and racino wagering collections were below both marks.

The state says, fiscal year-to-date, collections total $8.7 billion, which is 1 percent above the latest forecast and 1.5 percent ahead of collections through the same period the prior fiscal year. However, the agency says collections are about half of a percent below estimates that were used to develop the April 2017 budget plan.

You can see more on the monthly revenue report by clicking here.