State tax collections miss budget expectations
Tax receipts for the first quarter of the state's fiscal year have missed projections that were used to write the current two-year budget.
Revenue Forecast
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State collections miss target, but beat 2012 levels
The report released by the State Budget Agency said Indiana's general fund revenue fell about 5 percent below the latest target.
Pence sees hope for tax cut in better budget forecast
Expectations that Indiana will collect $290 million more in taxes have Gov. Mike Pence's team optimistic they can win a $500 million cut in the state's personal income tax this session.
Revenue forecast could swing Pence’s tax-cut hopes
The state revenue forecast due out April 16 will influence the next two-year budget and possibly help Gov. Mike Pence sell lawmakers on his proposed 10-percent income-tax cut. Experts predict the numbers won’t be much different from those in the last forecast.
FEIGENBAUM: Gambling predicament worse than feared
Gambling revenue for 2012 was down more than $110 million from 2010, and year-over-year revenue has tumbled in three consecutive years.
Indiana closes year with $2.1B in cash reserves
Indiana's state government is sitting on cash reserves of $2.15 billion following a year of continued budget cuts and improved tax collections.
Indiana tax collections below target for 2nd month
Figures released Monday by the State Budget Agency show tax revenues for February came in less than expected by nearly $29 million, or about 4 percent. That follows a shortfall of about 3.5 percent for January.
Indiana budget picture improved modestly in September
Indiana's budget picture continued improving last month as the state collected $31 million more in taxes than planned.
State tax collections improve slightly in August
The state said Tuesday it took in $12.3 million more in taxes than expected last month and that income and sales tax collections continued to improve through the end of August. However, gambling taxes from riverboat casinos came in $5.2 million less than expected.
Indiana tax revenue better than expected for July
The new budget year is off to a good start for Indiana’s state government with about $23 million more in tax revenue coming in than expected.
State tax revenue falls short of April forecast
Indiana's state government collected $87 million less than expected in tax revenue during April.
Analysts: Indiana taking in more money than expected
Analysts told the State Budget Committee on Friday they expect the state to take in some $643.7 million more in fiscal 2012 and 2013 than anticipated in the previous revenue forecast.
Indiana overpays localities $610M over 3 years
State budget officials are seeking to recoup much of nearly $610 million overpaid to local governments in fiscal years 2009, 2010 and 2011 due to income tax revenue estimates thrown off by the lingering recession.
Indiana took in more revenue than expected in January
So far this fiscal year, collections are ahead of the state's forecast by $78 million, or 1.1 percent.
Indiana took in more revenue than expected last month
The state reports it took in $137 million more last month than during December 2009, marking a 13 percent increase in revenue collections over last year.
Indiana lawmakers to face more tough budget decisions
When lawmakers open their new session Wednesday, they won't have some of the advantages they had during the last budget-writing debate in 2009. This time around, there will be no $1 billion in federal stimulus money to keep the budget afloat.
Indiana may cut Medicaid services to check costs
The state Medicaid actuary projected Indiana’s share of the program’s costs will rise by about $1.46 billion this fiscal year, by about $1.84 billion in the 2012 fiscal year and by about $2 billion in the 2013 fiscal year unless some services are cut.
Indiana revenue shows slight gains in November
Indiana’s finances showed signs of life in November as growth in sales and individual income tax collections helped bring in $49 million more than projected in the most recent revenue forecast.
Indiana revenue in October down from year ago
The state Budget Agency reported Wednesday that Indiana collected $959 million in October. That’s $23 million below the most recent forecast and about $81 million less than projected in the budget lawmakers passed in 2009.
Report: State must cut spending, hike taxes or both
Dwindling tax revenues will cause a projected $1.3 billion budget gap as the state enters its next budget, according a report released Thursday by the Indiana Fiscal Policy Institute.