Friday, September 24th, 2021

State revenue report exceeds projections

Posted: Friday, August 13, 2021

Source: Inside INdiana

Indiana’s monthly revenue report shows the state continues to exceed projections. The Indiana State Budget Agency says General Fund revenues totaled more than $1.3 billion last month, which was $65 million, or 5%, above the April revenue forecast. The agency says monthly collections from sales tax and corporate adjusted gross income tax came in above monthly estimates and are trending at multi-year highs.

The budget agency says sales tax collections totaled $830 million for July, which is $38 million above the monthly estimate and $67 million above revenue in July 2020.

Riverboat wagering collections totaled $1.3 million for July, which is $200,000 below the monthly estimate and $1 million above revenue in July 2020. Racino wagering collections totaled $11.6 million for July, which is $200,000 above the monthly estimate and $2.3 million above revenue during the same period a year ago.

The state says with the changing restrictions related to the pandemic and recent legislative changes impacting Indiana gaming activity, “gaming collections will be better interpreted in the coming months relative to the full fiscal year outlook.”

You can connect to the monthly revenue report by clicking here.