Monthly Revenue Report

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The monthly revenue report for December, along with commentary from State Budget Director Brian Bailey, has been posted on the State Budget Agency webpage. This is the first revenue report issued since the December 17, 2015 revenue forecast, which revised revenue projections for FY16 and FY17. The report and commentary can be found here:http://www.in.gov/sba/2659.htm. Charts visualizing revenue data are located on the Management and Performance Hub under the State Tax Revenue section: http://www.in.gov/mph/staterevenue.html.

 

Results

 

  • General Fund collections for December totaled $1,284.1 million, which is $1.4 million (0.1%) above the monthly estimate and $35.0 million (2.7%) below December 2014 revenue.
  • Sales tax collections totaled $587.2 million for December, which is $9.2 million (1.5%) below the monthly estimate and $24.2 million (4.0%) below revenue in December 2014.
  • Individual income tax collections totaled $389.7 million for December, which is $6.0 million (1.6%) above the monthly estimate and $3.6 million (0.9%) above revenue in December 2014.
  • Corporate tax collections totaled $166.0 million for December, which is $2.4 million (1.4%) below the monthly estimate and $8.5 million (4.9%) below revenue in December 2014.
  • Riverboat wagering collections totaled $30.8 million for December, which is $3.1 million (11.1%) above the monthly estimate and $0.1 million (0.5%) below revenue in December 2014.
  • Racino wagering collections totaled $9.0 million for December, which is $1.3 million (16.6%) above the monthly estimate and $0.4 million (4.2%) above revenue in December 2014.

 

Commentary

 

Year-to-date General Fund collections totaled $6,909.2 million, which is $16.7 million (0.2%) below estimate, and $17.1 million (0.2%) below collections for the same period last year.

 

Sales tax collections through six months of fiscal year 2016 were $45.5 million (1.2%) below estimate and $37.6 million (1.0%) below collections through six months of fiscal year 2015.

 

Individual income tax collections through six months of fiscal year 2016 have grown by $68.7 million (2.9%) over the same period a year ago and were $56.5 million (2.4%) above the year-to-date estimate.

 

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