Indiana has collected more in taxes so far this new fiscal year than budget writers planned for.
The state is about $38 million ahead of its budget plan two months into the fiscal year.
That’s primarily due to a stronger-than-expected August. Sales and individual income taxes generated about $25 million more in revenue than anticipated. Corporate taxes also came in above target, the seventh consecutive month they’ve done so.
Indiana tax collections have outpaced state budget targets in seven of the last 14 months.
Contact Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.
