News

Missouri revenue grows, but sales tax collections fall

JEFFERSON CITY, Mo. _ State tax revenue continues to come in higher than expected.

Missouri's net general revenue is up 4.9 percent compared to last year. The state budget anticipates 3.8 percent growth.

But sales tax collections dropped, falling 4.7 percent compared to January 2007. Sales tax revenue for the last three months is 1.7 percent lower than for the same period a year ago.

State Administration Commissioner Mike Keathley warns national economic concerns could affect state coffers for the rest of the fiscal year, which ends June 30.

Much of the growth comes from individual income taxes, which were 11.8 percent higher last month than a year ago. For the entire year, income tax collections have grown by 8.7 percent to $2.9 billion.

  Comments