Indiana is well ahead of its budget plan at the halfway point of the current fiscal year after December’s strong tax collections.
Sales and corporate income taxes did better than expected last month. And both tax collection categories are outperforming projections six months into the fiscal year.
That’s particularly notable for corporate taxes, which had put up disappointing numbers for nearly two years.
But individual income taxes are scuffling – more than $18 million less than expected at the fiscal year’s halfway point.
Still, total state revenues are nearly $100 million better than budget writers planned for.