State Revenues Beat Projections
The state says August revenues were $12 million ahead of projections and about $40 million higher than the same period last year. The positive report is being tempered by the anticipation of a weaker national economy. State Budget Agency Director Adam Horst says state revenues could fall by several hundred million dollars based on lower national projections.The state is reporting higher sales tax and income tax collections compared to last year.
It says corporate income tax collections missed projections for August and the riverboat wagering tax collections were also low.
That is a reflection of declining attendance at many venues.
Source: Indiana Department of Revenue