Indiana
September Indiana Revenues Fall Short of Projections
INDIANAPOLIS, Ind. (WOWO): Indiana’s income collections for September fell wanting the newest estimates. The Indiana State Finances Company says Common Fund revenues final month totaled practically $1.9 billion, which was 4.2% under the December 2021 forecast, and 1.6% decrease than the identical month final yr. It’s the first time since October 2020 that revenues fell under projections. The company says the decrease collections are attributable to a delay in revenue tax fee processing.
Moreover, the repeal of the utility receipts tax and utility providers use tax outweighed higher than-expected collections from gross sales tax, company adjusted gross revenue tax, insurance coverage, and curiosity. Riverboat wagering and racino wagering tax collections had been additionally under the newest estimates, although the company notes that timing modifications within the reporting of collections from gaming taxes will have an effect on the primary few months of the fiscal yr.
A hyperlink to the report could be discovered right here.