State Tax Collections Just Short Of Expectations In January

Indiana's January tax collections dipped just below expected levels for the first time in three months.

The state took in half a million dollars less than anticipated in January. That’s the fifth time in seven months – of the current fiscal year – the state didn’t meet expectations.

Still, Indiana’s collections are about $35 million ahead of projections through the entire fiscal year, and individual income and sales tax collections are performing better than predicted.

Only corporate income taxes lag behind expectations, about $41 million off the mark through the fiscal year’s seven months.