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Indiana tax collections below target for January

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Indiana's state tax collections came in slightly below projections for January, the first monthly shortfall since the new state budget year began last July.

Figures released Tuesday by the State Budget Agency show tax revenues came in less than expected by nearly $48 million, or about 3.5 percent. Tax revenue for the first seven months of the budget year is about 1 percent ahead of projections and 8.3 percent ahead of the same period a year ago.

The budget agency attributes most of the January shortfall to sales-tax collections coming in at $33 million less than projected.

State budget director Adam Horst says tax collections are still ahead of the forecast that legislators used last year in preparing the current state budget.

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  • note to our state "accountants"
    Has anyone reconciled that holding account where you recently found the $320M error? :)
  • JEB "Bush"
    for january sunshine....january
  • WHAT JOE?
    Joe, your comment makes no sense whatsoever! Why the hell would Mitch be looking to blame the federal government due to our state tax revenue being higher than expected?
  • Mitch
    alright Mitch......let's here your sob story about the federal government and how it isn't your fault.........

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