Corporate tax collections continue to drop [View all]

INDIANAPOLIS — State corporate tax collections are continuing to fall below their monthly estimate for the ninth time out of the past 10 months.

The State Budget Agency this week reported that corporate tax collections totaled $220.5 million in April, which were $9 million below the estimate and $43.3 million below revenue for April 2017.

Year-to-date corporate tax collections totaled $430.9 million, which is $112.2 million below the December 2017 revised revenue forecast and $286.4 million below collections through the same period in the 2017 fiscal year.

General fund revenues, sales tax collections and individual income tax collections all totaled above their estimates.

Read more: http://thestatehousefile.com/corporate-tax-collections-continue-drop/35575/