Indiana continues modest tax-collection gains

November 3, 2011

Indiana continued to fill its coffers slightly better than expected in October but the state's economic forecast remains dim.

The state announced Thursday it took in nearly $41 million more than expected last month. The state overshot its estimates by a modest 3.8 percent although collections are vastly improved from a year ago.

Collections of the state's sales tax and income tax improved last month, but gaming revenues continued to lag as they have for the past four months.

State Budget Director Adam Horst cautioed that the national economic outlook remains glum. State leaders are expected to receive an updated budget forecast in December.

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