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Indiana

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Indiana tax collections down in May

State tax collections were down in May, but the dip was expected after unusually high April revenues, state budget officials said Monday.

May revenue came in $143 million less than projections. But April revenue was up $159 million because of faster-than-usual tax returns processing.

Overall – with just one month left in the fiscal year – revenues are below projections by two-tenths of 1 percent, or about $25 million. June is the second-largest month of the year in terms of tax collections.

Revenues are running nearly $200 million ahead of planned spending in the budget.

nkelly@jg.net

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