Post by jean on Aug 11, 2015 18:51:36 GMT -5
July revenue for Indiana falls $6.1M short of projections
Posted: Tuesday, August 11, 2015 4:51 pm
INDIANAPOLIS (AP) — Tax collections data show revenue for the state of Indiana fell $6.1 million short of projections in July.
The information on revenue for the beginning of the fiscal year was released Monday. Tax collections were also $1.1 million lower than what the state brought in for July 2014.
The Indianapolis Star (http://indy.st/1KfzIxH ) reports the condition of the state's tax collections will likely play a role as Gov. Mike Pence decides whether to pay off a roughly $250 million federal unemployment loan. If it's paid off by Nov. 9, the state's employers would save an estimated $327 million in penalties in 2016.
The state began borrowing from the federal government in 2008 to meet demands for unemployment amid the recession.
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Information from: The Indianapolis Star, www.indystar.com
www.greensburgdailynews.com/news/july-revenue-for-indiana-falls-m-short-of-projections/article_7b7f09db-ea9d-5352-bbdb-4716eb50b8ed.html
Posted: Tuesday, August 11, 2015 4:51 pm
INDIANAPOLIS (AP) — Tax collections data show revenue for the state of Indiana fell $6.1 million short of projections in July.
The information on revenue for the beginning of the fiscal year was released Monday. Tax collections were also $1.1 million lower than what the state brought in for July 2014.
The Indianapolis Star (http://indy.st/1KfzIxH ) reports the condition of the state's tax collections will likely play a role as Gov. Mike Pence decides whether to pay off a roughly $250 million federal unemployment loan. If it's paid off by Nov. 9, the state's employers would save an estimated $327 million in penalties in 2016.
The state began borrowing from the federal government in 2008 to meet demands for unemployment amid the recession.
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Information from: The Indianapolis Star, www.indystar.com
www.greensburgdailynews.com/news/july-revenue-for-indiana-falls-m-short-of-projections/article_7b7f09db-ea9d-5352-bbdb-4716eb50b8ed.html