Indiana tax collections surged above expectations in May as the state heads into the final month of the fiscal year.
January’s Indiana tax collections dipped just below expected levels for the first time in three months.
A Senate committee approved a bill that would require online retailers to collect sales tax for Indiana even if they have no physical connection to the state.
Through four months of the fiscal year, Indiana’s tax collections have yet to meet or exceed projected levels.
Through nine months of the fiscal year the state is essentially on target for its projections.
In a 2012 settlement, Amazon agreed to start collecting sales taxes on items shipped to Indiana beginning this year.
Individual income tax collections were 22 percent lower than expected for the month of May.
A House committee has inserted the Amazon language into an unrelated bill, in an attempt to keep it alive for negotiations.
Overall revenues were boosted by a surge in individual income tax collections, which came in more than $70 million ahead.
January revenues were higher than predicted, but sales tax revenues are falling short of predictions for this fiscal year.