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October Indiana Revenues Beat Projections

(Source: http://bit.ly/1T0IDMJ License: http://bit.ly/1PpGKT1)

INDIANAPOLIS, Ind. (WOWO):  After falling short the previous month, Indiana’s revenue collections for October exceeded the most recent estimates.  The Indiana State Budget Agency tells Inside Indiana Business that General Fund revenues last month totaled nearly $1.7 billion, which was 12.6% above the December 2021 forecast and 20.7% higher than the same month last year. The agency says a delay in income tax payment processing led to $64 million in individual income tax collections and $6 million in corporate tax collections being reported in October instead of September. If the delay had not been a factor, state revenues would have been 7.8% higher than the December forecast and 15.5% higher than October 2021. Only riverboat wagering and racino wagering tax collections fell short of the monthly estimate in October.

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