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Missouri revenues down by 10 percent in February

JEFFERSON CITY | Missouri tax revenues plunged by more than 10 percent in February compared with the same month last year.

State figures show sales taxes fell by more than 16 percent and individual income taxes dropped by greater than 3 percent in February.

February marked the two-thirds point for Missouri's budget year. General revenues were down 1.4 percent for the fiscal year to date. That's due partly to a 6.5 percent decline in sales tax collections. Individual income taxes actually are up 3.1 percent through the first eight months of the fiscal year.

State budget officials expect tax revenues to continue to lag because of the economic recession.

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