Extra Revenue

Carvlin, Elizabeth
December 2004
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p37
Trade Publication
The article focuses on Indiana state which brought in about $89 million, or 11.7% more than it expected for November 2004. All of the "big three" tax sources, sales, corporate, and individual income, were up more than anticipated. In the first five months of the fiscal year including November 2004, Indiana was $188 million ahead of January 2004's forecast. Revenues were 8.9% higher than the same period in fiscal 2004. The state received a one-time payment of back taxes totaling $49.9 million following a favorable tax court decision. That boosted the state's corporate income tax.


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