State Revenue Beats Estimates for September

(photo courtesy of Dan McGowan)

Indiana revenue once again beat the most recent projections for the month of September. The Indiana State Budget Agency says General Fund revenues totaled just over $1.9 billion last month, which was nearly 16% higher than the April 2021 revenue forecast and nearly 18% higher than the same month last year.

The agency says collections from sales tax, individual income tax, and corporate adjusted gross income tax were the key drivers in the “better-than-expected performance.” Only racino wagering collections were lower than projections.

Year-to-date, General Fund revenues are nearly $430 million above the April 2021 forecast, but remain 7.3% lower than the amount collected during the same time period in the previous fiscal year.

You can connect to the September revenue report by clicking here.