Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Feb. Revenues Surpass Projections, State Still Behind Budget Plan

Lauren Chapman
/
IPB News

Indiana tax collections surpassed expectations in February for the third consecutive month – and only the third time this fiscal year.

Total tax collections were about $30 million better than expected last month. The positive month was spurred by individual income tax collections more than 30 percent better than projected. Sales taxes came in essentially right on target.

But corporate taxes continue to struggle. Those collections have been above expected levels only once in eight months of the fiscal year. And through those eight months, the state has collected $62 million less from corporations than it expected.

And with a third of the fiscal year remaining, total tax revenues remain behind the state’s budget plan – about $20 million off the mark as of February.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.