From the Indianapolis Star:
State revenues are up slightly more than estimated for the first eight months of the fiscal year, but down in February.
The state collected $701 million in February, which is $21.6 million less than projected. Sales and income tax collections both were up but corporate income tax collections were lower than expected due to a large amount of refunds paid out that month.
Eight months into the July through June fiscal year, revenues have increased 3.7 percent more than expected -- $154.4 million ahead of pace.
Sales, income and corporate taxes have exceeded estimations.
Lawmakers will use a revenue forecast to be released April 17 before deciding whether the state can afford Gov. Mike Pence’s proposed 10-percent individual income tax cut.
http://www.indystar.com/apps/pbcs.dll/article?AID=2013303080076
