State revenue in May was $112 million above the most recent forecast. The Indiana State Budget Agency says last month’s total of nearly $1.2 billion is more than 6 percent higher than the same month in 2016.
The General Fund revenue totals exceeded projections by more than 10 percent. Year-to-date collections stand at $13.5 billion, which is $76.9 million above the April 2017 revenue forecast and $405 million higher than the same period the previous year.
Sales tax collections, individual income tax collections and corporate tax collections were 1.4 percent, 30.8 percent and 38.1 percent above the monthly estimate, respectively. Riverboat wagering collections and racino wagering collections were all below estimates in May.
You can connect to more about the May report by clicking here.