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.
