State Revenues Miss Projections For A Third Straight Month
State tax revenues came in below expectations for the third consecutive month. That puts Indiana nearly $39 million off the mark through the first quarter of the fiscal year.
Indiana came in about $5.5 million below projected levels last month, falling short in both sales tax and individual income tax.
Yet the state notes tax revenues are growing compared to last year - they’re more than $50 million ahead of where they were in 2013 through the first three months of the fiscal year.
Sales tax and corporate tax collections are ahead of expectations in the first quarter. But individual income tax is struggling, coming in nearly $50 million short of projections.