Wednesday, September 7, 2011

Missouri general revenue up in August

JEFFERSON CITY, MO (KRCU) - Missouri general revenue is up by 4.2 percent more than it was at this time last fiscal year.

Likewise, August collections were up by nearly 7% as compared to August of last year.

Most of the increase can be attributed to strong sales tax figures, which increased by more than 9 and a half percent last month.

But State Budget Director Linda Luebbering cautions that the August number bring a worrisome trend.

"The biggest concern for the August revenue report were the individual income tax collections. If you look at August of the current fiscal year compared to August of last fiscal year, we actually collected less individual income tax collections than we did last year," Luebbering says.

Individual income tax collections make up the largest source of revenue for Missouri.

Luebbering says this decrease could be attributed to bad timing … or it could be a symptom of the global economic downturn.

Jacob McCleland, KRCU


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