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Government

Indiana Starts Fiscal '16 With Two Down Months

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Indiana’s fiscal year is off to a slow start, with its first two months coming in below expectations.

August tax collections came in more than $25 million less than expected – following a July return of more than $7 million below projections.

That leaves the state already 1.5-percent off the mark through the first two months of the new fiscal year.

Corporate taxes fared well in August, more than 40-percent better than expected.

But individual income taxes scuffled after a strong July and sales taxes performed poorly again, more than $20 million off the mark.

That marks 18 of the last 20 months that sales tax collections have failed to meet expectations.