The state general fund revenues for December were $1,319.1 million, a .1-percent increase from December 2013. Sales tax collections were $611.3 million, a 7.4-percent increase from 2013. Riverboat wagering collections were $30.9 million, a 6.3-percent increase from 2013, while racino - racing and casino - wagering collections totaled $8.6 million, a 6.4-percent increase from 2013, according to the report.
Individual income tax collections totaled $386.1 million for the month, a 10.7-percent decrease from 2013, while the $174.5 million in corporate tax collections had a .7-percent decrease from 2013.
However, according to the Indiana State Tax Revenue webpage, corporate tax dollars for fiscal year 2014 were the highest they have been since 2009 at $1,054,449,000.
Yearly totals for individual income tax dropped slightly, from $4.977 billion in 2013 to $4.899 billion in 2014.
Annual sales tax totals increased from $6.795 billion to $6.925 million, according to the report.
“Individual income tax collections through six months of fiscal year 2015 have grown by $122.5 million, 5.5 percent, during the same period a year ago but were $73.8 million, 3 percent, below the revised estimate year to date,” Budget Director Brian Bailey said in the report’s commentary.
Hannah Alani
