State Revenue Beats Estimates Again

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Indiana revenue exceeded the most recent projections for the month of December. The Indiana State Budget Agency says General Fund revenues totaled nearly $1.7 billion last month, which was 1.2% higher than the December 2021 forecast and more than 14% higher than the same month in 2020.

The agency says collections from sales tax, individual income tax and racino wagering were the key drivers in the increased revenue. Only corporate tax collections and riverboat wagering collections were lower than projections.

Year-to-date, General Fund revenues are more than $23 million above the December 2021 forecast and 1.5% higher than the amount collected through the same period the previous fiscal year.

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