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

Indiana July Tax Collections Lower Than Expected

Noah Coffey
/
https://www.flickr.com/photos/noahwesley/

Indiana is beginning the new fiscal year with tax revenues below projected levels, weighed down by poor performance from corporate tax collections. 

The state struggled through much of the 2014 fiscal year that ended in June, coming in below expectations most of the year before finishing strong. 

But Indiana’s momentum stalled to begin the 2015 fiscal year, with tax collections in July a little more than five million dollars less than expected. 

Individual income and sales tax revenues performed better than projected, but corporate income suffered, nearly 50 percent off the mark. 

That marks a change from last fiscal year, when corporate tax revenues finished the year more than a hundred million dollars ahead of expectations. 

State Budget Director Brian Bailey notes that the overall tax collections last month did improve compared to July of last year. 

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.