LOUISVILLE, Ky. (WHAS11) - - Taxpayers in Indiana are getting some money back from the state.
Indiana ran a surplus of more than a half billion dollars in revenue versus spending. This will bring Indiana’s total reserve to more than $2 billion. This is more than the state was excepting from before early spring.
Governor Mitch Daniels says the cash reserves are from a mix of three major factors, improved tax collections, spending cuts to state agencies and an error the Daniels administration found $320 million in untouched tax collections.
That means each taxpayer gets an additional $100 through automatic tax credits next year.