Advisory: Monthly Revenue Report

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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: 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 November totaled $1,054.5 million, which is $21.3 million (2.1%) more than the monthly estimate and $29.8 million (2.9%) above November 2014 revenue.
  • Sales tax collections totaled $592.8 million for November, which is $6.9 million (1.1%) below the monthly estimate but $9.9 million (1.7%) above revenue in November 2014.
  • Individual income tax collections totaled $404.9 million for November, which is $29.8 million (7.9%) above the monthly estimate and $18.4 million (4.8%) above revenue in November 2014.
  • Corporate tax collections were negative $1.6 million for November, which is $2.6 million (259.7%) below the monthly estimate and $5.7 million (139.9%) below revenue in November 2014.
  • Riverboat wagering collections totaled $21.3 million for November, which is $0.4 million (1.7%) above the monthly estimate and $1.9 million (9.6%) above revenue in November 2014.
  • Racino wagering collections were $7.1 million for November, which is $0.3 million (4.5%) above the monthly estimate and $1.2 million (20.5%) above revenue in November 2014.

 

Commentary

 

Year-to-date General Fund collections totaled $5,625.0 million, which is $40.1 million (0.7%) lower than estimated, but $17.9 million (0.3%) above collections for the same period last fiscal year.

 

Sales tax collections through five months of fiscal year 2016 were $102.5 million (3.3%) below estimate and $13.5 million (0.4%) below collections through five months of fiscal year 2015.

 

Individual income tax collections through five months of fiscal year 2016 have grown by $65.1 million (3.3%) over the same period a year ago and were $103.2 million (5.3%) above the year-to-date estimate.

 

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