NewsPublic Affairs / September 8, 2017

State Tax Revenues Continue To Struggle In New Fiscal Year

Indiana continues to struggle in its new fiscal year as revenues came in below expectations in August.income tax, tax revenue2017-09-08T00:00:00-04:00
Original story from   IPBS-RJC

Article origination IPBS-RJC
State Tax Revenues Continue To Struggle In New Fiscal Year

The Indiana Statehouse.

Lauren Chapman/IPB News

Indiana continues to struggle in its new fiscal year as revenues came in below expectations in August.

Total state tax collections came in about $18 million off the mark in August. That puts the state more than $40 million behind projections this fiscal year.

Sales and corporate tax revenues continue to struggle. Corporate taxes in particular suffered last month, $31 million less than expected, which is about 700 percent below target.

Individual income tax collections did rebound in August after an underwhelming start to the year – $14 million more collected than expected.

Yet through two months of the fiscal calendar, individual income taxes remain below projections, as do sales and corporate collections.

 

 

Related News

Gary Joins The Competition For Amazon's HQ2
Groups To Sue Duke Energy Over Toxic Waste Safety Info
Small Earthquake Reported In Illinois, Felt In Indiana