Tax Collections

Indiana began the final quarter of its 2019 fiscal year with a positive month of revenue collections. (Lauren Chapman/IPB News)
Brandon Smith

Indiana began the final quarter of its 2019 fiscal year with a positive month of revenue collections.

The Indiana Statehouse (Brandon Smith/IPB News)
Brandon Smith

Indiana revenues are on target with three months left before the state closes its books on the 2019 fiscal year.

The state collected about $14 million more in taxes in March than the budget plan projected. That puts Indiana roughly where it wants to be for the entire fiscal year – about 0.5 percent ahead of its target.

State Tax Collections Miss The Mark In February

Mar 10, 2019
The Indiana Statehouse (Lauren Chapman/IPB News)
Brandon Smith

Indiana tax collections failed to meet expectations in virtually all major sources last month.

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 is well ahead of its budget plan at the halfway point of the current fiscal year. (Brandon Smith/IPB News)
Brandon Smith

Indiana is well ahead of its budget plan at the halfway point of the current fiscal year after December’s strong tax collections.

The 2019 budget-writing session of the General Assembly will begin Jan. 3. (Brandon Smith/IPB News)
Brandon Smith

Growth in corporate tax collections – the third largest source of state revenue – is expected to stall in the second year of Indiana’s next budget.

It’s partly why lawmakers face a tight budget - and some say ongoing tax cuts are to blame.

In the next state budget’s second year, corporate income tax growth is projected to be just 0.3 percent, an expected increase of just $2 million.

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.

Indiana tax collections outperformed budget projections better in September than any month in the current two-year budget cycle. (Brandon Smith/IPB News)
Brandon Smith

Indiana tax collections outperformed budget projections in September – better than any month in the current two-year budget cycle.

That includes a strong rebound in corporate income taxes.

Indiana missed the mark in corporate tax collections 13 out of 15 months going into September. But the state brought in more than $28 million more in corporate income tax last month than predicted.

Indiana tax collections surged above expectations in May as the state heads into the final month of the fiscal year.

A new revenue forecast delivered in April put a damper on Indiana’s tax revenue performance. The state was $34 million behind expectations after last month’s poor collections.

Tax Revenues Better After Forecast Changes Targets

Jan 6, 2017

Indiana’s tax collections are just above the most recent forecast through half of the fiscal year.

Indiana’s most recent revenue forecast – which came out mid-December – is already having a positive impact on the state’s overall tax collection picture.

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