State Revenue Down in April
The state is reporting $1.84 billion in general fund collections for April.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana State Budget Agency says collections for April were below the latest projections and lower than the same month the previous year. The agency says, year-to-date, revenue is nearly in line with the most recent estimate.
The state is reporting $1.84 billion in general fund collections for April, which is 2.1 percent below the monthly estimate and 3.4 percent below revenue in April 2015. Sales tax, individual income tax, riverboat wagering and racino wagering collections were each below the monthly estimate. Corporate tax collections were higher than the latest projection.
The agency says year-to-date general fund collections total $11.95 billion, which is slightly below estimate and collections for the same period the previous year. Sales tax, individual income tax and corporate collections for the first 10 months of fiscal year 2016 are each below the latest estimates.
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