Indiana Revenue Collections Above Projections in March Created by djackson on 4/5/2014 8:51:24 AM
INDIANAPOLIS (WOWO): State revenue in March was slightly higher than projections. The Governor's office released results Friday. You can find the report by clicking here.
Some details of note from the press release:
· State general fund revenues for March were $14.5 million (1.4%) above the estimate based on the December 20, 2013 forecast and $106.6 million (11.6%) above collections in March 2013.
· Individual income tax collections totaled $330.5 million for the month, which is $20.2 million (6.5%) above the estimate for the month.
· Corporate income tax collections were $24.7 million above estimate for March and $71.8 million (15.4%) above forecast year to date.
· For the first nine months of FY 2014, total general fund revenues were $75 million (only 0.8%) below the estimate based on the December 20, 2013 forecast and $47.3 million (0.5%) above collections for the first nine months of FY 2013.