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Revenue less than expected in July for IN

Indiana’s new fiscal year got off to a rough start as state tax revenue collections last month were more than $14 million below projections. 

The first month of the 2014 fiscal year did not meet expectations as Indiana collected 1.4% less in tax revenues than predicted. 

The biggest hit came from individual income tax collections, which were $12 million below expected levels. 

Sales tax collections were down $10 million. State Budget Director Brian Bailey says the drop is in part because the state transferred sales tax money to the Motor Vehicle Highway Fund, as required by the budget bill passed last session.  He says without the sales tax redirection, state tax revenues would only have been about $4 million below expectations.

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.