INDIANAPOLIS, Ind. (WOWO):  Indiana’s revenue collections for September fell short of the most recent estimates.  The Indiana State Budget Agency says General Fund revenues last month totaled nearly $1.9 billion, which was 4.2% below the December 2021 forecast, and 1.6% lower than the same month last year. It is the first time since October 2020 that revenues fell below projections. The agency says the lower collections are due to a delay in income tax payment processing.

Additionally, the repeal of the utility receipts tax and utility services use tax outweighed better than-expected collections from sales tax, corporate adjusted gross income tax, insurance, and interest. Riverboat wagering and racino wagering tax collections were also below the most recent estimates, though the agency notes that timing changes in the reporting of collections from gaming taxes will affect the first few months of the fiscal year.

A link to the report can be found here.