Monthly Revenue Report

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Friday, January 6:

The monthly revenue report for December, 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: 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 December totaled $1,307.2 million, which is $5.6 million (0.4%) above estimate based on the December 15, 2016 forecast, and $23.1 million (1.8%) above revenue in December 2015.
  • Sales tax collections totaled $612.1 million for December, which is $11.1 million (1.9%) above the monthly estimate and $25.0 million (4.2%) above revenue in December 2015.
  • Individual income tax collections totaled $403.2million for December, which is $4.8 million (1.2%) below the monthly estimate but $13.5 million (3.5%) above revenue in December 2015.
  • Corporate tax collections totaled $167.4 million for December, which is $10.5 million (6.7%) above the monthly estimate and $1.4 million (0.8%) above revenue in December 2015.
  • Riverboat wagering collections totaled $27.4million for December, which is $0.9 million (3.5%) above the monthly estimate but $3.4 million (10.9%) below revenue in December 2015.
  • Racino wagering collections totaled $8.6 million for December, which is $0.3 million (3.6%) above the monthly estimate but $0.4 million (4.2%) below revenue in December 2015.

 

Commentary 

Year-to-date General Fund collections totaled $7,068.2 million, which is $35.1 million (0.5%) above the December 2016 revenue forecast and $159.1 million (2.3%) above collections through the same period in the prior fiscal year.

Year-to-date sales tax collections totaled $3,711.9 million, which is $32.8 million (0.9%) above the December 2016 forecast and $107.2 million (3.0%) above collections through the same period in the prior fiscal year.

Year-to-date individual income tax collections totaled $2,522.2 million, which is $40.6 million (1.6%) above the December 2016 forecast and $93.8 million (3.9%) above collections through the same period in the prior fiscal year.

Year-to-date corporate tax collections totaled $356.8 million, which is $34.0 million (8.7%) below the December 2016 forecast and $23.1 million (6.1%) below collections through the same period in the prior fiscal year.

 

 

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