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Indiana state tax collections take May dip

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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.

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