Indiana’s October revenue collections exceed most estimates

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After falling short the previous month, Indiana’s revenue collections for October exceeded the most estimates.

General Fund revenues last month totaled nearly $1.7 billion dollars, which was more than 12 percent above the December 2021 forecast and more than 20 higher than the same month last year.

The agency says a delay in income tax payment processing led to $64 million in individual income tax collections and $6 million in corporate tax collections being reported in October instead of September.

If the delay had not been a factor, state revenues still would have been higher than the forecasts.

Only riverboat wagering and racino wagering tax collections fell short of the monthly estimate.

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