State Revenue Up 4.8% for the Year

1 decade 3 years 3 months ago Tuesday, March 06 2007 Mar 6, 2007 Tuesday, March 06, 2007 1:55:52 PM CST March 06, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
JEFFERSON CITY (AP) - The state's net revenues have increased 4.8% through eight months of the fiscal year, to $4.6 billion. That's the word today from the Office of Administration. State revenues for February were also up compared to February 2006. Individual income taxes so far this year are up 5.7%, and were also up for February. Sales tax collections rose 2.4% for the year, though they were down for the month. Individual income taxes account for 63% of the state's overall revenue this fiscal year, while sales taxes make up about 26%. Office of Administration Commissioner Mike Keathley says lower energy prices have spurred consumer spending, and that the state can expect moderate economic growth looking ahead.

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