Indiana's new fiscal year got off to a slightly underwhelming start.
Indiana is on a streak of lackluster beginnings to its fiscal years under Governor Mike Pence. In the four starts to a fiscal year during the Pence administration, the state's tax collections came in less than projected in each one. This year, it's a slim margin – a little more than $7 million off the mark, less than one percent lower than expected.
Individual income taxes did well in July, nearly $20 million better than projections. But corporate income taxes fared poorly –more than 45 percent less than expectations.
July also marked another off month for sales taxes, which came in $18 million below target. That's 17 out of the last 19 months that sales taxes failed to perform as expected.