Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

January Revenues Tick Up, Still Behind State Budget Plan

Lauren Chapman
/
IPB News

Indiana tax revenues surged ahead of the state’s revised, more pessimistic expectations in January. Yet seven months into the current fiscal year, total collections are still below target for the state budget approved last year by lawmakers.

Analysts delivered a new, less promising fiscal outlook in mid-December. Based on those projections, January revenues swelled, boosted by positive collections of sales and individual income taxes.

Corporate income taxes failed to reach even the more pessimistic marks in January, but state fiscal analysts say that’s because of recent federal tax changes. The state reports about $50 million were shifted from corporate to individual income tax pools in January.

A little more than halfway through the year, total tax collections for Indiana are about $40 million – or 0.5 percent – behind the state's budget plan.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.