Indiana's tax collections fell in May, but state budget officials say the decline had been expected following April's unusually high tax revenue.
May's state tax revenue came in $143 million below projections, according to the Journal Gazette of Fort Wayne. That comes after April's revenue was up about $159 million due to faster-than-usual tax returns processing.
With one month remaining in the current fiscal year, state tax revenues are below projections by two-tenths of 1 percent, or about $25 million. June is the second-largest month of the year in terms of tax collections.
Revenues are running nearly $200 million ahead of planned spending in the state's budget.