State revenue again beats projections
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Indiana once again surpassed the most recent revenue projections in August. The Indiana State Budget Agency says General Fund revenues last month totaled more than $1.5 billion, which was 9% higher than the December 2021 forecast and more than 12% higher than the same month last year.
The agency says better-than-expected collections from individual income tax, sales tax, and corporate taxes, as well as well as interest and miscellaneous revenues are drove the numbers for August.
Riverboat wagering tax collections were below projections, but racino wagering collections surpassed the monthly estimate.
Year-to-date, General Fund revenues total just over $3 billion, which is about $200 million over the December forecast and nearly 12% higher than the same period last year.
You can connect to the full August revenue report by clicking here.