Missouri Revenues Up From Last Year
JEFFERSON CITY - The November General Revenue report released Thursday shows a 3.5 percent increase in the state's revenues for the budget year. State Budget Director Linda Luebbering announced higher November numbers in the revenue report. The month was up 3.3 percent greater than November 2009. This is partly because of tax collection increases.
Inheritance and Estate tax and county foreign insurance saw some of the largest increases compared to last November. Inheritance tax collections are up 36.12 percent for the month and 1,642.20 percent for the year. Sales, individual income and corporate tax collections have all increased since September 2010.
Sales tax collections increased 3.3 percent for the year, and 19.2 percent for the month. Individual income is up 2.4 percent for the year, and .7 for the month. And corporate tax collections saw one of the biggest increases, 13.5 percent for the year, but it did decrease for the month by 11 percent.
There are some interesting numbers on the decline. Fewer people are hitting up the wine and spirits aisle, with liquor and beer tax collections showing lower numbers for both the month and the year. Liquor tax decreased by 18.76 percent for the month and 8.31 percent for the budget year. Beer tax is down by 3.15 percent compared to last November and 2.15 compared to last year.