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Missouri sees higher income tax collections since July

Oct 02, 2012 -- 12:47pm

 

Missouri general revenues are up so far this fiscal year, driven mostly by a steady rise in individual income tax collections.  The 2012 general revenue report for September released Tuesday shows income tax revenues have jumped 3-point-7-percent since July.  But sales tax collections have only increased less than 1-percent for the first three months of the fiscal year.  Overall, general revenues are up 6-point-6-percent to start the year.  State Budget director Linda Luebbering tells KZIM KSIM slow sales taxes are still a major problem.  Luebbering says the new data confirms the state economy is growing but slowly.  She says we’re on a path of steady growth but still not on the pace we need to be to say we’ve turned the corner. Individual income taxes generate the most money for the state to meet its budget. 

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