Sales taxes, the states largest revenue source, did not meet projections, though theyre still on target for the overall fiscal year.

The first half of the fiscal year ended on a high, with strong December revenues. But they fell back to earth last month.

Sales and corporate income taxes did better than expected last month. And both tax collection categories are outperforming projections.

Growth in corporate tax collections – the third largest source of state revenue – is expected to stall in the second year of Indiana’s next budget.

Sales and individual income taxes struggled in November. But both revenue streams are still mostly on track for the overall fiscal year.

Indiana tax revenues came in $51 million less in October than the state’s budget plan projected.

The state brought in more than $28 million more in corporate income tax last month than predicted.

Total tax revenues collected in August were nearly $31 million less than projected. That leaves Indiana slightly behind its state budget plan early in the new fiscal year.

Only once in the last year have corporate tax collections performed at or above expectations.

Overall, the state’s tax collections essentially met the budget plan approved last year, 0.01 percent better than expected.