State revenue continues to beat projections

Indiana revenue exceeded the most recent projections for the month of January. The Indiana State Budget Agency says General Fund revenues totaled more than $2 billion last month, which was 2.1% higher than the December 2021 forecast and more than 11% higher than the same month in 2020.

The agency says the increased revenue was driven largely by better-than-expected collections from individual income taxes, corporate taxes, and gaming taxes.

Year-to-date, General Fund revenues are nearly $65 million above the December 2021 forecast and 3.2% higher than the amount collected through the same period the previous year.