INDIANAPOLIS | State tax revenue in September failed to meet expectations for the third month in a row, the first time that's happened since Gov. Mike Pence took office in 2013.
Last month, the state collected $1.485 billion. That was $5.6 million, or 0.4 percent, short of the revenue forecast used by the Republican governor's office to adjust state spending; and just $24.4 million, or 1.7 percent, more than the state took in last September.
Weak individual income tax revenue was the primary culprit. Despite Indiana's shrinking unemployment rate, the $550.6 million in September income tax revenue was $41.1 million, or 6.9 percent, below expectations.
Riverboat casino wagering tax revenue also badly missed its target, coming in at $19.5 million for the month. That was $5.4 million, or 21.8 percent, less than predicted.
Three months into the state's new budget year, tax revenue from casino bets is running 27.4 percent below last year, which was 19 percent less than the year before.
Pence has signaled a reluctance to do anything to help the state's casinos be more competitive with new gaming facilities in neighboring states. But continued gaming tax revenue declines may threaten his plans for new spending on state programs or further business tax cuts.
The state's leading revenue source, the 7 percent sales tax, missed its September target by just $100,000, totaling $604.5 million.
Corporate income tax receipts of $227.3 million were the sole bright spot last month, beating expectations by $38.3 million, or 20.3 percent.