The monthly revenue report for January, along with commentary from Budget Director Brian Bailey, has been posted on the State Budget Agency webpage. The report can be found here: http://www.in.gov/sba/2631.htm. Data on January revenues can also be found on the MPH website here: http://in.gov/mph/staterevenue.html.
Results include:
- State general fund revenues for January were $1,365.6 million, which is $63.5 million (4.4%) below the estimate based on the revised forecast and $32.5 million (2.4%) above revenue in January 2014.
- Sales tax collections were $683.2 million for January, which is $8.1 million (1.2%) below the monthly estimate and $37.7 million (5.8%) above revenue in January 2014.
- Individual income tax collections totaled $592.9 million for the month, which is $51.2 million (8.0%) below the revised monthly estimate and $1.6 million (0.3%) above revenue in January 2014.
- Corporate tax refunds exceeded collections by $2.8 million for the month. The net collection amount is $5.8 million below the estimate for the month.
- Riverboat wagering collections were $35.1 million for January, which is $4.3 million (14.1%) above the estimate.
- Racino wagering collections totaled $10.0 million for the month, which is $0.8 million (9.0%) above the estimate.
