Staff Report
TheStatehouseFile.com
INDIANAPOLIS — State corporate tax collections are continuing to fall below their monthly estimate for the ninth time out of the past 10 months.
The State Budget Agency this week reported that corporate tax collections totaled $220.5 million in April, which were $9 million below the estimate and $43.3 million below revenue for April 2017.
Year-to-date corporate tax collections totaled $430.9 million, which is $112.2 million below the December 2017 revised revenue forecast and $286.4 million below collections through the same period in the 2017 fiscal year.
General fund revenues, sales tax collections and individual income tax collections all totaled above their estimates.
Year-to-date general fund collections totaled nearly $12.6 million, which is $88.4 million above the December 2017 revised revenue forecast and $303.3 million or 2.5 percent above collections through the same period in the prior fiscal year.
Individual income tax collections totaled around $1 million for April, which is $26.6 million above the monthly estimate and $186.3 million or 22.4 percent above revenue in April 2017.
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