State Revenue Beats Projections

State revenues in December were $5.6 million above the most recent forecast. The Indiana State Budget Agency says last month’s total of $1.3 billion is nearly 2 percent higher than the same month in 2015.

The General Fund revenue totals exceeded estimates by 0.4 percent. Year-to-date collections stand at $7.1 billion, which is $35.1 above the December 2016 revenue forecast and $159 million higher than the same period the previous year.

Individual income tax collections were 1.2 percent below the monthly estimate but 3.5 percent higher than the same month last year. Sales tax collections, corporate tax collections, riverboat wagering collections and racino wagering collections were all above monthly estimates.

You can connect to more about the December report by clicking here.