Indiana’s general revenues were lower than expected last month.
The report from the State Budget Agency shows total receipts were 3% below projections and a fraction lower than February, 2012.
Sales tax revenue was down slightly compared to what was expected, but individual income taxes were 28% above target. Due to a large amount of corporate tax refunds paid out in February, those receipts were off by more than 300%.
Still, for the fiscal year so far, revenues are ahead of the December forecast.