Posted: Aug 2, 2013 11:39 AM by The Associated Press
Updated: Aug 2, 2013 11:41 AM
JEFFERSON CITY (AP) - Missouri has started its 2014 fiscal year with a dip in revenues compared to last year.
Figures reported Friday by the state Office of Administration show that state revenues in July were 4.8 percent below last July. Budget Director Linda Luebbering on Friday said the decline occurred because last year's figure was boosted by Missouri's share of a national mortgage settlement.
The 2014 budget started July 1 and is based on a growth in revenues of 3.1 percent. Sales tax collections were up 4 percent and corporate income taxes were are up 10.4 percent. Individual income taxes increased 0.2 percent.