Missouri Tax Revenue Higher than Projected

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JEFFERSON CITY - Missouri's tax revenue is running ahead of projections into the final month of the state budget year.

Figures released Tuesday by the state Office of Administration show general revenue is up 3.4 percent compared to 2011. It's ahead of the projected 2.7 percent growth upon which the 2012 budget was based.

Missouri's 2012 fiscal year begins July 1 and ends June 30.

Sales and use tax collections rose 4.7 percent through May. Individual income tax collections were 3.4 percent through the first 11 months of the fiscal year. The state has paid out fewer tax refunds than last year.

Corporate income taxes were down 9.9 percent for the year.