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State Tax Revenue Goes Up In March

State tax receipts beat projections in March by almost 1.5%.

Revenue was just over $1 billion last month which is 11.6% more than in March 2013. For the fiscal year which began July 1st, total tax collections are still about $71 million behind the estimates used to write the current two-year budget.

Corporate tax receipts are 15 percent higher than projected this fiscal year which is seen as a positive sign.

The increase in revenue is despite cuts in that tax rate which could show companies shifting revenue to Indiana from states that have higher tax rates.