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Indiana Tax Collections Are Up

by
money
money

The first monthly revenue report since lawmakers passed a new two-year state budget came in 4 percent higher than projections made just a few weeks ago. Tax revenue in April was also almost 4.5 percent higher than collections the previous year. The state’s general fund is now $136 million ahead of projections for the fiscal year that ends June 30.

The April report shows that income tax collections are up but sales tax collections were 0.5 percent lower than what was forecasted for the month. 

Corporate income tax collections were also down in April. 

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