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The Associated Press August 3, 2011, 12:56PM ET

Indiana tax revenues better than expected for July

The new budget year is off to a good start for Indiana's state government with about $23 million more in tax revenues coming in than expected.

A report released Wednesday by the State Budget Agency shows tax collections totaling a little over $1 billion for July.

That's 2.3 percent more than was projected in an April forecast that legislators used in developing the new two-year state budget and 11 percent better than what the state collected a year ago.

State budget officials say the biggest boost in revenue has come from a $43 million, or 16 percent, increase in individual income taxes compared to July 2010.

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