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Indiana Revenue Collections Better Than A Year Ago

Tax revenue last month in Indiana is less than what was projected in December, but better than a year ago.

The state brought in $719-million in February which is $29-million less than what was forecast three months ago.

However, the figure is $3-million more than what the state received at the same time in 2011.

February marks the eighth month of the fiscal year.  It is traditionally the month with the lowest collections because of the amount of tax refunds paid to Hoosiers.

Both sales and income tax collections were up, sales taxes by more than two percent and individual income by more than six percent.

For the fiscal year as a whole, state revenue is $147-million ahead of what was projected when the budget was set last April.