Revenues up 9.5 Percent for 2013 Budget Year
JEFFERSON CITY (AP) — Missouri revenues have increased by 9.5 percent during the state's current budget year.
Figures released Monday by the Office of Administration show net general collections totaled $4.54 billion since July, compared to $4.15 billion during the same period last year. The 2013 budget started July 1 and continues through the end of June.
Collections from individual income taxes are up 6.1 percent compared with last year, while sales taxes are up 2.4 percent. Tax refunds are down 28.5 percent.
Budget Director Linda Luebbering says individual income tax collections have been strong.
She says delays by the federal government contributed to reduced state tax refunds in January, and she expects another lag in tax refunds in February.