State Government and Taxes and Government & Economic Development and Government

Indiana March revenues come in more than expected

April 8, 2011

Indiana revenues grew last month compared to a year ago and came in higher than projected in December.

According to a report by the Indiana State Budget Agency, the state took in $977.2 million in March, up $69 million, or 8 percent, from the same month a year ago and $32 million more than the forecast.

Individual income taxes had the highest percentage growth over a year ago, bringing in $334 million, nearly 17 percent more than in March 2010.

Sales taxes remained the state's greatest revenue source, bringing in $484 million, about $24 million more, or 5.1 percent higher, than a year ago.

Indiana Budget Director Adam Horst said sales tax collections have increased year-over-year for 13 consecutive months.

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