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Government

State Revenue Misses Mark For Fourth Time In Five Months

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Keith Cooper
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https://www.flickr.com/photos/cooperweb/8363160192

Indiana tax collections have fallen below expectations four of the first five months of the fiscal year. 

November tax revenues came in about $48 million below expected levels, due primarily to individual income tax collections that underperformed by about 10-percent. 

Through nearly half of the fiscal year that began in July, state revenues are about $85 million below projections, about 1.5-percent less than expected. 

And while sales and corporate tax collections have exceeded expectations, individual income taxes are more than $100 million off the mark. 

Yet House Ways and Means Chair Tim Brown (R-Crawfordsville) notes the state’s collected nearly $200 million more this year than it had the same time last year.

“Now last year, fiscal year, was a down year compared to the prior, so we’re growing from a little bit smaller base," Brown says.  "So we’re still on target for the end of this year but I am encouraged that our year-over-year is higher.”

A new revenue forecast is due later this month.