Indiana state revenues are continuing their overall upward trend.
Year-to-date General Fund revenues totaled $3,075 billion, which is $50.8 million (1.7%) above the April 2023 revenue forecast and $42.7 million (1.4%) above revenues through the same period in the prior fiscal year.
Year-to-date sales tax collections totaled $1,738.6 billion, which is $57.2 million (3.2%) below the April 2023 revenue forecast and $7.5 million (0.4%) below collections through the same period in the prior fiscal year.
General Fund revenues for August totaled $1,47 billion, which is $42.8 million (3.0%) above estimate based on the April 19, 2023 revenue forecast but $75.4 million (4.9%) below revenue in August 2022.
Sales tax collections totaled $861.5 million for August, which is $29.5 million (3.3%) below the monthly estimate but $0.02 million (0.0%) above revenue in August 2022.
Individual income tax collections totaled $503.9 million for August, which is $51.3 million (11.3%) above the monthly estimate but $108.1 million (17.7%) below revenue in August 2022.
Corporate tax collections totaled $0.5 million for August, which is $8.4 million (94.0%) below the monthly estimate and $9.3 million (94.5%) below revenue in August 2022.
Riverboat wagering tax collections totaled $5.4 million for August, which is $3.7 million (220.4%) above the monthly estimate and $3.3 million (148.5%) above revenue in August 2022.
Racino wagering tax collections totaled $9.8 million for August, which is $1.1 million (10.2%) below the monthly estimate and $0.7 million (6.2%) below revenue in August 2022
