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Indiana tax collections below target for 2nd month

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Indiana's state tax collections have fallen short of projections for the second straight month.

Figures released Monday by the State Budget Agency show tax revenues for February came in less than expected by nearly $29 million, or about 4 percent. That follows a shortfall of about 3.5 percent for January.

Despite that two-month period, tax revenue for the first eight months of the current budget year is about half a percentage point ahead of projections and 7.6 percent ahead of the same period a year ago.

State budget director Adam Horst says the Department of Revenue has paid out more in tax refunds over the past two months than in January and February 2011, so income tax collections might be stronger later this year.

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  • Bada Bing
    Is that before or after adjusting for the $300 Million from last year? Transparency and integrity in state government? NOT. How do you misplace for an entire year $300 Mill?

    Mitch runs state government like a Strip Club! I do not believe anything that comes from them.
  • Super Bowl
    How much of this could be unestimated Super Bowl impact? The NFL doesn't have to pay taxes, so how much revenue was lost there?
  • could the money be misplaced
    Did they misplace it like the other 300 million they found? Just saying!

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