Indiana’s tax collections remain just barely above target through eight months of the fiscal year.
The state brought in about 45-million more tax dollars in February than expected, more than 6.5-percent above target. That’s despite sales and corporate tax revenues that came in below projections.
The state’s positive revenue month was almost entirely due to individual income tax collections – $65 million, or 131-percent better than expected.
That brings the state’s total tax revenues through eight months of the fiscal year to $52 million above target – less than a percent better than expectations.
February marks four consecutive months the state’s revenues have exceeded projections.