While this is a $47.8 million decrease from estimates made in December 2013, this is an $86 million increase for the year-to-date revenue since October, according to a news release from Gov. Mike Pence’s office.
It is also a $116.6 million increase from revenue received in November 2013.
The state has received approximately $5.4 billion this year, but that is $282.4 million less than expected so far.
The largest source of income for the revenue was in sales tax, adding $582.9 million, which is more than $6 million more than the estimated amount for the month. However, this is the lowest that sales tax revenue has been for the 2015 fiscal year.
Individual income tax revenue was also lower than estimated for the month.
The state received $386.5 million in income tax, a nearly 10-percent decrease from what was expected. This revenue is 27 percent more than what was received in November 2013.
Corporate tax collections garnered $4 million this month. Corporate taxes have brought in 3.2 percent more revenue than what was expected since July.
However, it is 8 percent lower than what was received during the same period last year.
Corporate taxes have brought in $261.9 million throughout this fiscal year.
Emily Ernsberger
