News release from the State of Indiana:
State of Indiana Monthly Revenue Report
(May 13, 2016) – The monthly revenue report for April, along with commentary from State Budget Director Brian Bailey, has been posted on the State Budget Agency webpage. The report and commentary can be found here: https://www.in.gov/sba/2659.htm. Charts visualizing revenue data are located on the Management and Performance Hub under the State Tax Revenue section: https://www.in.gov/mph/.
Results
- General Fund collections for April totaled $1,841.0 million, which is $39.3 million (2.1%) below the monthly estimate and $65.7 million (3.4%) below April 2015 revenue.
- Sales tax collections totaled $609.0 million for April, which is $24.0 million (3.8%) below the monthly estimate but $10.1 million (1.7%) above revenue in April 2015.
- Individual income tax collections totaled $860.5 million for April, which is $59.4 million (6.5%) below the monthly estimate and $69.2 million (7.4%) below revenue in April 2015.
- Corporate tax collections totaled $247.8 million for April, which is $43.6 million (21.3%) above the monthly estimate but $2.7 million (1.1%) below revenue in April 2015.
- Riverboat wagering collections totaled $37.4 million for April, which is $0.7 million (1.8%) below the monthly estimate and $5.9 million (13.5%) below revenue in April 2015.
- Racino wagering collections totaled $9.9 million for April, which is $0.3 million (2.9%) below the monthly estimate and $2.0 million (16.8%) below revenue in April 2015.
Commentary
Year-to-date General Fund collections totaled $11,951.7 million, which is $2.8 million (0.0%) below estimate, and $29.6 million (0.2%) below collections for the same period last year.
Sales tax collections through ten months of fiscal year 2016 were $94.2 million (1.5%) below estimate and $21.3million (0.4%) above collections through ten months of fiscal year 2015.
Individual income tax collections through ten months of fiscal year 2016 are $19.4 million (0.4%) below collections over the same period a year ago and were $13.4 million (0.3%) above the year-to-date estimate.
Corporate collections ten months into fiscal year 2016 were $51.5 million (6.6%) below year-to-date collections of fiscal year 2015 and $42.4 million (6.2%) above the year-to-date estimate.
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