A report presented to the State Budget Committee forecast tax collections growing nearly $1.9 billion, or 10.4%, more for this fiscal year than what was expected when the current state budget was approved in April. That would push Indiana’s budget surplus to a whopping $5.1 billion by the end of next June.

Does Indiana have a deficit or surplus?

A report presented to the State Budget Committee forecast tax collections growing nearly $1.9 billion, or 10.4%, more for this fiscal year than what was expected when the current state budget was approved in April. That would push Indiana’s budget surplus to a whopping $5.1 billion by the end of next June.

Does the state of Indiana have a balanced budget?

It was approved. A “yes” vote supported this amendment to require the state legislature to enact a balanced budget for each biennial budget period….State profile.

Demographic data for Indiana
Indiana U.S.
Persons below poverty level: 18.4% 11.3%

Does Indiana have a surplus of money?

Indiana closed out its last budget with more than $2 billion in reserves and an annual budget surplus of $100 million.

Is the state of Indiana in debt?

U.S. Census Bureau

[hide]Total fiscal year 2015 state debt, U.S. Census Bureau
State Total state debt State debt per capita
Indiana $22,463,710,000 $3,397
Illinois $64,221,381,000 $5,002
Michigan $33,245,109,000 $3,352

Is Indiana broke?

TIA’s Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt. Indiana only has $31.3 billion of assets available to pay bills totaling $33.2 billion. Because Indiana doesn’t have enough money to pay its bills, it has a $1.9 billion financial hole.

Where does Indiana get its money?

A high percentage of Indiana’s income is from manufacturing. Indiana has been the largest steel producing state in the U.S. since 1975, with the Calumet region of northwest Indiana being the largest single steel producing area in the U.S., accounting for 27% of all U.S. steel production.

What is Indiana surplus?

Indiana’s State Surplus Division facilitates the redistribution, sale, or final disposal of items purchased by the State government that are no longer needed by the purchasing agency. In doing, the State maximizes the value of each purchase.

Where is my Indiana State Refund 2019?

Two ways to check the status of a refund: Online via INTIME. By telephone at 317-232-2240 (Option 3) to access the automated refund line. Please allow 2-3 weeks of processing time before calling. Some tax returns may take longer to process due to factors like return errors or incomplete information.

Where does Indiana get its revenue from?

Of the revenue Indiana derived from its own sources, 66.6 percent came from taxes compared to 69.8 percent nationally. Indiana uses various charges and miscellaneous fees more often than other states. Figure 1 shows that Indiana is more dependent on property and individual income taxes than other states.

Is Indiana a good state to live?

Is Indiana a Good Place to Live? Indiana is one of the best states to live in because it boasts the lowest cost of living, low crime rates, and plenty of job opportunities with a growing automotive industry. As the state with the lowest cost of living, it also makes sense that it has incredibly affordable housing.

Who is the largest employer in Indiana?

Detailed List Of The 100 Biggest Companies In Indiana

Rank Company Employees
1 Go Electric 283,000
2 Anthem 63,900
3 Cummins 62,600
4 Eli Lilly and Company 40,655

What is the biggest industry in Indiana?

In Indiana, chemical manufacturing is the largest industry, accounting for 6.1% of the state’s total GDP of $379.7 billion. The industry’s annual economic output totals $23.3 billion, a 15.6% increase over the last five years. Overall employment in the industry totals about 31,600, or 1.0% of all jobs in Indiana.