State Of Indiana Monthly Revenue Report
The monthly revenue report for November, along with commentary from State Budget Director Brian Bailey, has been posted on the State Budget Agency webpage. The report and commentary can be found here:Â http://in.gov/sba/2696.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 revenues for November totaled $998.3 million, which is $4.3 million (0.4%) above estimate based on the December 17, 2015 forecast, but $56.2 million (5.3%) below revenue in November 2015.
- Sales tax collections totaled $599.5 million for November, which is $14.3 million (2.3%) below the monthly estimate but $6.7 million (1.1%) above revenue in November 2015.
- Individual income tax collections totaled $352.5 million for November, which is $28.9 million (8.9%) above the monthly estimate but $52.3 million (12.9%) below revenue in November 2015 due to the extra Friday of processing in November 2015 versus November 2016.
- Corporate tax collections were negative $18.0 million for November, which is $18.5 million (4040.3%) below the monthly estimate and $16.4 million (1015.4%) below revenue in November 2015.
- Riverboat wagering collections totaled $20.7 million for November, which is $0.5 million (2.6%) above the monthly estimate but $0.5 million (2.5%) below revenue in November 2015.
- Racino wagering collections totaled $7.1 million for November, which is $0.6 million (9.3%) above the monthly estimate and equaled the amount of revenue collected in November 2015.
CommentaryÂ
Year-to-date General Fund collections totaled $5,761.0 million, which is $71.4 million (1.2%) below the December 2015 revenue forecast but $136.0 million (2.4%) above collections through the same period in the prior fiscal year.
Year-to-date sales tax collections totaled $3,099.8 million, which is $88.6 million (2.8%) below the December 2015 forecast but $82.2 million (2.7%) above collections through the same period in the prior fiscal year.
Year-to-date individual income tax collections totaled $2,119.0 million, which is $63.4 million (3.1%) above the December 2015 forecast and $80.2 million (3.9%) above collections through the same period in the prior fiscal year.
Year-to-date corporate tax collections were $189.4 million, which is $57.2 million (23.2%) below the December 2015 forecast and $24.4 million (11.4%) below collections through the same period in the prior fiscal year.
