The state of Indiana is taking in more cash, for the most part.
According to the State Budget Agency, overall, revenue collections are up more than 13 percent. Sales tax collections were basically flat, while income tax collections are up more than 40 percent over last December.
Below is a breakdown.
- General Fund revenues for December totalled $1,997.1 billion, which is $234.9 million (13.3%) above the estimate based on the December 19, 2023 revenue forecast and $285.2 million (16.7%) above revenue in December 2022.
- Sales tax collections totalled $855.1 million for December, which is $2.6 million (0.3%) below the monthly estimate and $0.03 million (0.0%) below revenue in December 2022.
- Individual income tax collections totalled $768.1 million for December, which is $232.1 million (43.3%) above the monthly estimate and $228.5 million (42.3%) above revenue in December 2022.
- Corporate tax collections totalled $170.3 million for December, which is $11.4 million (6.3%) below the monthly estimate but $19.8 million (13.1%) above revenue in December 2022.
- Riverboat wagering tax collections totalled $24.7 million for December, which is $0.4 million (1.7%) above the monthly estimate but $2.2 million (8.0%) below revenue in December 2022.
- Racino wagering tax collections totalled $10.4 million for December, which is $0.03 million (0.2%) below the monthly estimate and $0.4 million (3.6%) below revenue in December 2022.
