INDIANAPOLIS, Ind. — The Indiana State Budget Agency reports Indiana’s monthly revenue for October was lower than expected. While still missing earlier estimates, October’s total of over $1.1 billion is still roughly five percent higher than October 2015.
Overall, the General Fund revenue totals missed projections by $17.9 million, which is 1.5 percent. To date, collection hover at close to $4.8 billion, which is roughly $78 million below the December forecast. However, this is still $192 million higher than October of last year.
Corporate tax, sales tax, racino betting, and riverboat wagering all missed expectations. Individual income tax collections were almost two percent over what had been predicted, and they were about six percent higher than in October 2015.
