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Indiana Sees Strong Tax Revenue In April

State tax revenue and individual income tax revenues were up, while corporate income tax collections were down since last April.

20 dollar bills

Photo: AComment (flickr)

Increases in state tax revenue and individual income tax revenue have been reported since last April.

Indiana brought in about $71 million more in April tax revenue than forecasts predicted and $81 million more than the same month last year. That means state revenues have jumped more than 2 percent this year.

Individual income tax revenues were up, but corporate income tax collections were down more than 5 percent since April 2012 and were below forecast.

Still, the state is expected to see strong revenues over the next two years. A revised forecast revealed last month predicts Indiana will bring in $290 million more in than previously thought.

That provided legislators with more cushion for tax cuts and additional spending as they put together and passed the state budget.

Gretchen Frazee

Gretchen Frazee is a reporter/producer for WFIU and WTIU news. Prior to her current role, Frazee worked as the associate online content coordinator for WFIU/WTIU. She graduated from the University of Missouri-Columbia where she studied multimedia journalism and anthropology. You can follow her on Twitter @gretchenfrazee.

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