Indiana tax revenues fell further behind expectations as the state finished the first quarter of its fiscal year.
The first two months of the fiscal year put the state more than $40 million below expectations. September made it more than twice as bad.
Total tax collections last month were more than $66 million less than projected, which puts the state $107 million off the mark for the fiscal year.
Sales, corporate, and individual income taxes all missed their targets in September. Corporate and sales taxes haven’t yet met expectations at any point this fiscal year.
And corporate tax collections in particular have suffered – nearly $89 million less than expected through three months.