Indiana's state tax collections are now slightly ahead of projections for the budget year after a big revenue jump during April.
Figures released Friday by the State Budget Agency show tax revenue for last month came in about $159 million, or 9 percent, ahead of projections and about 25 percent more than what the state collected in April 2011.
The state had fallen behind its revenue projections with weak collections in January and February, but it is now slightly ahead 10 months into the budget year.
State budget director Adam Horst attributes some of the April revenue growth to faster processing of income tax returns. He said May's revenue could decline because of fewer payments being processed.
http://www.ibj.com/indiana-state-tax-collections-jump-in-april/PARAMS/article/34260
The state had fallen behind its revenue projections with weak collections in January and February, but it is now slightly ahead 10 months into the budget year.
State budget director Adam Horst attributes some of the April revenue growth to faster processing of income tax returns. He said May's revenue could decline because of fewer payments being processed.
http://www.ibj.com/indiana-state-tax-collections-jump-in-april/PARAMS/article/34260
