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State Revenues Begin New Fiscal Year Roughly On Target

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Brandon Smith
/
IPB News

Indiana began its new fiscal year with tax collections that were roughly on target with where the state wants them to be.

The state didn’t take in as much money in taxes in July as budget writers planned. But it was close – just $2 million less than anticipated. That’s only 0.2 percent off the mark.

And most major tax categories outperformed expectations – individual and corporate income taxes came in above target. That’s especially positive for corporate tax collections, which have exceeded projections for six consecutive months.

But sales tax revenues struggled slightly last month. And while it wasn’t a huge dip – just 0.1 percent off the mark – it marks the eighth time in the last 13 months when sales taxes failed to meet expectations.

Contact Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5

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.