February State Revenue Exceeds Forecast
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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 the state’s General Fund revenues in February came in at just over $1 billion, which is nearly 17% above estimates and 11% higher than actual revenue in the same month last year.
The agency says sales tax collections totaled $695 million last month, which is nearly 10% above the monthly estimate.
Indiana recorded below-estimate levels in both riverboat and racino wagering collections. For the month, riverboat wagering tax collections came in nearly 40% below revenue in February 2020, the last month before the state went into COVID lockdown.
Year-to-date General Fund revenues totaled $11.7 billion, which is 3.5% above the December 2020 revenue forecast.
Click here to view the monthly revenue report.