corporate income tax

Second Half Of Indiana Fiscal Year Off To Rocky Start

Feb 10, 2019
The first half of the fiscal year ended on a high, with strong December revenues. But they fell back to earth in January. (Brandon Smith/IPB News)
Brandon Smith

The second half of Indiana’s fiscal year got off to a slow start.

January tax collections struggled in all the major categories.

Indiana Tax Revenues Slip In October

Nov 9, 2018
Indiana’s tax collections came in below target last month, dipping after a strong September. (Brandon Smith/IPB News)
Brandon Smith

Indiana’s tax collections came in below target last month, dipping after a strong September. Yet the state is still on track for the overall fiscal year.

State Tax Revenues Continue Slump In November

Dec 11, 2017


Indiana tax revenues continued their slump last month as the state nears the halfway point of its current fiscal year.

Indiana took in $13 million less in taxes than expected in November, which puts the state nearly $150 million below target through five months of the fiscal year.

The state has yet to exceed expectations for a single month in that period.

President Donald Trump called the GOP’s tax reform plan a “middle class miracle” as he rolled out details in a speech in Indianapolis Wednesday.

Trump said tax reforms passed in Indiana before and during Vice President Mike Pence’s time as governor should be a model for national change.

Indiana’s business community is waiting to see how federal tax reform plans, set for release next week, might impact their companies and workers.

At a roundtable in Indianapolis on Thursday, business leaders said they want to communicate to their workers and the public that lowering America’s corporate tax rate will be good for more than just executive paychecks.

Eric J Paparatto /

Indiana’s new fiscal year got off to a slightly underwhelming start, continuing the streak of lackluster beginnings to its fiscal years under Governor Mike Pence.

In the four starts to a fiscal year during the Pence administration, the state’s tax collections came in less than projected each year.

It’s a slim margin this year – a little more than $7 million off the mark and less than one percent less than expected.

Individual income taxes did well in July, nearly $20 million better than projections.

Jim Nix /

Indiana last month faced the first significant revenue shortfall this fiscal year, collecting $64 million less than expected.

A processing error shifted more than $86 million tax dollars collected in September to October’s balance sheets.  After accounting for that shift, the state fell short of its target revenue by nearly 6 percent last month. 

Through a third of the current fiscal year, that puts Indiana about $61 million below target, which is about 1.3 percent off the mark. 

Jim Grey /

Indiana tax collections in August inched just ahead of projections two months into the new fiscal year. 

Indiana collected about $6 million more in taxes last month than expected, putting the Hoosier State right on par with projections for the entire year – just $300,000 better than predicted. 

Both individual and corporate income tax collections performed better than expected last month while sales tax figures dipped, about $15 million off the mark. 

Indiana Economic Development Corporation

The Indiana Economic Development Corporation took out a full-page ad in the Wall Street Journal today Wednesday criticizing Connecticut’s $1.5 billion dollar corporate tax increase and touting Indiana’s business-friendly policies.

The ad that was placed in the Connecticut, New Jersey and New York versions of the Wall Street journal bears this message: “Friends don’t let friends pay higher taxes.”

courtesy GE

In a speech that was touted as one which would show Purdue as a leader in the country’s new manufacturing economy, the President of the National Association of Manufacturers Tuesday focused instead on blasting the Obama Administration.

In a speech kicking off a nationwide tour, Jay Timmons spent a single paragraph on technology such as "3-D printing, nanoscale chemistry" and new medicines, but spent several minutes explaining why he feels the White House is working at cross-purposes with business interests.