State Revenue Remains Below Needed Level

6 years 4 months 2 weeks ago Friday, March 02 2012 Mar 2, 2012 Friday, March 02, 2012 2:01:00 PM CST March 02, 2012 in News
By: Associated Press

JEFFERSON CITY - Missouri revenues through the first eight months of this fiscal year remain below the needed amount to balance the state budget.

The state Office of Administration reported Friday that net revenues from July through February increased about 2.4 percent over the same period last year. The governor's office says the budget is based upon a 2.7 percent growth rate.

Most of Missouri's general revenue comes from individual income and sales taxes.

Sales taxes are up 4.4 percent compared to last year and individual income tax collections are up about 3.5 percent. However, corporate income taxes have decreased 11.9 percent.

 

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