Better than expected collections from sales and individual income taxes translated to strong revenue performance for Indiana government in December.
General fund revenues for December totaled $1,663.4 million, which was $19 million or 1.2% above December estimates and $205.6 million or 14.1% above revenue in December 2020, according to the latest report from the Indiana State Budget Agency.
Sales tax collections totaled $834.3 million for December, which was $6.9 million or 0.8% above the monthly estimate and $116.2 million or 16.2% above revenue in December 2020.
Individual income tax collections totaled $472.3 million for December, which was $17.1 million or 3.8% above the monthly estimate and $20 million or 4.4% above revenue in December 2020.
Corporate tax collections totaled $224 million for December, which was $5.8 million or 2.5% below the monthly estimate but $62.8 million or 39% above revenue in December 2020.
Riverboat wagering collections totaled $24.5 million for December, which is $2.8 million or 10.1% below the monthly estimate but $5.3 million or 27.5% above revenue in December 2020.
The state said year-to-date general fund revenues totaled $9,003.7 million, which was $23.4 million 0.3% above the December 2021 revenue forecast and $135.5 million or 1.5% above revenues through the same period in the prior fiscal year.
Year-to-date sales tax collections totaled $4,897.0 million, which is $6.9 million (0.1%) above the December 2021 revenue forecast and $537.0 million (12.3%) above collections through the same period in the prior fiscal year.
