Indiana News

Tax revenue falls slightly in August

INDIANAPOLIS (AP) — Indiana’s tax collections fell slightly during August following a big July revenue jump the state saw as fiscal year 2013 got under way.

Figures released Wednesday by the State Budget Agency show August’s tax revenues came in at about $948 million, or 1.7 percent below projections. Indiana took in about $1.11 billion in July, putting it about 4 percent ahead of the state’s revenue forecast.

State budget director Adam Horst says state revenues now exceed the latest revenue forecast by about $50 million, and general revenues need to increase less than 2.2 percent to meet the most recent forecast for the current fiscal year.

Horst says September’s tax collections should provide a clearer picture of how state revenues are faring. September is the state’s third-biggest revenue month.

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