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State collections miss target, but beat 2012 levels

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A monthly report shows overall state revenue was down in August.

The report released Friday by the State Budget Agency said Indiana's general fund revenue fell about 5 percent below the latest target.

Some funds seem to be running ahead of last year, but behind the levels forecast by the state.

Individual income tax collections were about 12 percent below forecast and about 1 percent below August 2012.

But corporate income taxes beat the target and surged 36 percent over last year's levels. For the first two months of the fiscal year, they're running nearly 47 percent above target.

Sales tax collections also sent a mixed message: They were below forecast, but higher than last year's.

The report says revenue from gambling was about 7 percent above target.

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  • OMG What About Our Gigantic Tax Cut??
    Holy smokes! Are we going to have to forget about that giant tax cut we are supposed to get? I believe the Governor and his Republican minions referred to it as a multi-billion dollar cut. But that must be over about 100 years since my cut amounted to about a $1 per week.
  • Corporations make money, we don't
    The GOP tax plan is working. The corporate interests make more money, flat taxes let the CEOs get away with very little tax payments on their massive bonuses, and we little people get screwed as they cut funding for police and schools.

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