State revenue beats estimates for September

INDIANAPOLIS (Inside INdiana Business) — Indiana revenue once again beat the most recent projections for the month of September. The Indiana State Budget Agency says General Fund revenues totaled just over $1.9 billion last month, which was nearly 16% higher than the April 2021 revenue forecast and nearly 18% higher than the same month last year.

The agency says collections from sales tax, individual income tax, and corporate adjusted gross income tax were the key drivers in the “better-than-expected performance.” Only racino wagering collections were lower than projections.

Year-to-date, General Fund revenues are nearly $430 million above the April 2021 forecast, but remain 7.3% lower than the amount collected during the same time period in the previous fiscal year.

You can connect to the September revenue report by clicking here.