Indiana Earnings Exceed May Forecasts – WOWO 92.3 FM | 1190am

Indianapolis, Indiana (WOWO): After a lackluster month in April, Indiana’s revenues beat expectations in May.according to Inside Indiana BusinessGeneral Fund revenues totaled $1.5 billion last month, 0.9% higher than the April 2023 forecast, but 11% lower than the same month last year, according to the Indiana Budget Office.

The agency said higher-than-expected collections from corporate adjusted gross income tax, game tax and interest outweighed lower-than-expected collections from sales tax and personal income tax. Sales tax collections last month totaled approximately $854 million, more than $19 million less than expected but $6.8 million higher than May 2022. Personal income tax collections were 3.4% lower than the monthly forecast.

View the full earnings report here here.