Indiana's monthly revenue is up $41 million from December, but still $15 million below the expectations that were set when the budget was passed in June 2009.
Revenue collections are up $129 million, or 11.3 percent, above collections for the same period last year, according to a press release from the State Budget Agency.
While revenue is up from last month's forecast, it still trails the
May 2009 forecast by $297 million, according to the press release.
State revenues for fiscal year 2010 were $879 million less than the May 2009 forecast.
Sales tax and individual income tax collections have both increased during the past year. Sales tax increased more than five percent for five of the past six months, and income tax collections increased 15.1 percent in January compared to last year.
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