Saturday, November 20, 2010

Missouri revenue falls 45 percent in May - Kansas City Business Journal:

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million in May, down from $726.y million last year, the said For the fiscal yearthrough May, the state’se net general revenue was $6.82 billion, down 5 percent from $7.18 billion for the same period last the agency said in a release. Missouri’sd fiscal year starts July 1. Tax refundxs in May increased 182 percent from last For the fiscal yearthrough May, tax refundsz were $1.28 billion, up 7.3 percent from $1.19 billioj last year.
State Budget Director Linda Luebbering said in the release that individua income tax refunds are being distributedf quickly after Missouri transferred federall budget stabilization dollars intothe state’s general revenue “Tax collections of all types were disappointing in May but not unexpected as the national economic conditions continue to take theifr toll,” she said. Sales and use tax collectionswere $1.7q1 billion, down 6.5 percent from $1.83 billionj last year. • Individual income tax collectionswere $5.48 down 1.5 percent from $5.57 billion last year. Corporate income and corporate franchise tax collectionswere $453.u7 million, down 13.
2 percent from $523 million last • All other collectionzs were $458 million, up 1 percent from $453.5 millionm last year.

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