State Government Monthly Revenue Report
The monthly revenue report for August, 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:Â http://www.in.gov/mph/staterevenue.html.
Results
- General Fund revenues for August totaled $1,086.6 million, which is $25.7 million (2.3%) below estimate based on the December 17, 2015 Forecast but $7.5 million (0.7%) above revenue in August 2015.
- Sales tax collections totaled $620.2 million for August, which is $20.6 million (3.2%) below the monthly estimate but $9.1 million (1.5%) above revenue in August 2015.
- Individual income tax collections totaled $415.4 million for August, which is $0.6 million (0.1%) below the monthly estimate but $6.0 million (1.5%) above revenue in August 2015.
- Corporate tax collections totaled $1.8 million for August, which is $0.5 million (41.3%) above the monthly estimate but $3.9 million (68.1%) below revenue in August 2015.
- Riverboat wagering collections totaled $6.6 million for August, which is $6.0 million (47.6%) below the monthly estimate and $4.6 million (40.9%) below revenue in August 2015.
- Racino wagering collections totaled $8.4 million for August, which is $1.0 million (13.3%) above the monthly estimate and $1.0 million (13.4%) above revenue in August 2015.
Commentary
Year-to-date General Fund collections total $2,152.1 million, which is $33.0 million (1.5%) below the December 2015 revenue forecast but $31.3 million (1.5%) above the prior fiscal year.
