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State Tax Collections Bounce Back In November

By Brandon Smith

Posted December 4, 2015

Indiana tax collections rebounded last month from a subpar October, exceeding expectations by more than $20 million.

Indiana brought in about $21 million more than predicted in November, roughly 2 percent above target.

Revenues were boosted by strong individual income tax collections, nearly $30 million better than projected.

Yet while that helped buoy overall tax collections through five months of the fiscal year, it still leaves the state $40 million off the mark in fiscal year 2016.

Sales and corporate income tax revenues combined to fall more than $150 million short of projections so far – the corporate tax alone coming in nearly 19 percent off the mark.

The state will receive a new revenue forecast later this month.

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