NewsPublic Affairs / October 7, 2016

State Sales Tax Revenues Continue To Come In Low

The latest revenue report shows Indiana earned nearly $26 million less in sales tax than it expected in September.revenue report, sales tax2016-10-07T00:00:00-04:00
Article origination WBAA-AM
State Sales Tax Revenues Continue To Come In Low

State sales tax revenues were lower than expected in September.

file photo

State revenues are still falling short of projections, three months into the fiscal year.

Revenue numbers released Friday show Indiana earned nearly $26 million less in sales tax than it expected in September.

Those revenues have fallen short of expectations for 19 of the past 21 months.

Corporate tax revenue was also lower than expected in September, but individual income taxes and gambling revenues were higher than estimates -- putting Indiana just under $25 million below its total mark for monthly revenues.

That's a little better than the difference in August. But still, the state is around $58 million short of where it estimated it'd be by now, back in December of 2015.

Revenues were far higher last month than in September of 2015 -- but officials say that's largely due to a processing error that filed some money in October instead of September last year.  

 

 

Related News

Weekly Statehouse Update: Cold Beer Sales Dead, CBD Gains Momentum
Bill To Raise Child Limit For Foster Families Sent To Senate
Last Week At The Statehouse: Sunday Sales, State Of The State