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State Revenues Ahead Of Target Nearing End Of Fiscal Year

By Brandon Smith, IPB News | Published on in Economy, Government, Statewide News
Indiana began the final quarter of its 2019 fiscal year with a positive month of revenue collections. (Lauren Chapman/IPB News)
Indiana began the final quarter of its 2019 fiscal year with a positive month of revenue collections. (Lauren Chapman/IPB News)

Indiana began the final quarter of its 2019 fiscal year with a positive month of revenue collections.

That puts the state well ahead of its budget needs with just two months to go before the books are closed.

Almost all of Indiana’s revenue sources outperformed expectations in April – individual income, corporate, interest, insurance, gaming and cigarette taxes and fees came in above target.

Sales taxes, the state’s largest revenue source, did not meet projections, though they’re still on target for the overall fiscal year.

Also on target for the year: total state revenues. April’s strong showing means the state is now more than $200 million ahead of where the budget projections need it to be for the current fiscal year, which ends in June.