On the day Governor Mike Pence signed the new state budget there was good new when it came to revenue collections.
For the most part, collections have been flat or behind projects in past reports, however in the latest report they are coming in ahead of projections.
According to the State Budget office, general fund revenues ran nearly 10% ahead of projections. For April, the state took in $1.9 billion. which is $168.3 million (9.7%) above the estimate based on the April 16, 2015 revised forecast and $119 million (6.7%) above revenue in April 2014.
In other areas…
- Sales tax collections were $598.9 million for April, which is $29.2 million (4.7%) below the monthly estimate and $6.9 million (1.1%) below revenue in April 2014.
- Individual income tax collections totaled $929.6 million for the month, which is $145.8 million (18.6%) above the revised monthly estimate and $104.4 million (12.7%) above revenue in April 2014.
- Corporate tax collections were $250.5 million for the month, which is $49.2 million (24.4%) above the revised monthly estimate.
- Riverboat wagering collections were $43.3 million for April, which is $5.0 million (13.0%) above the revised monthly estimate.
- Racino wagering collections totaled $11.9 million for the month, which is $1.2 million (11.2%) above the revised monthly estimate.
