INDIANAPOLIS, Ind. (WOWO): Indiana’s revenue collections outpaced projections in December. The Indiana State Budget Agency released their latest report this past Friday and say that General Fund revenues last month totaled just under $2 billion, which was 13.3% higher than the updated December 2023 forecast and 16.7% higher than the same month last year.
The agency also says that collections from individual taxes came in above the monthly estimate. Individual income tax collections totaled $768 million last month, which was $232 million above projections and $228 million above December 2022. Sales tax collections were 0.3% below the monthly estimate.
You can find the latest state revenue report here.