Missouri revenue up 4 percent in first 2 budget months

JEFFERSON CITY, Mo. (AP) — Strong sales tax collections in August helped Missouri's revenues rise more than 4 percent during the first two months of the state's budget year.

Figures released Friday by the state Office of Administration show August sales tax revenues were up 9.6 percent over the same month a year ago. Corporate tax collections also rose while tax refunds fell. That helped offset a slight decline in individual income tax collections and produced a net revenue increase of 6.9 percent for August.

Missouri's 2012 fiscal year began July 1.

Through the first two months of the budget year, revenues were up 4.2 percent. Sales taxes and individual income taxes both rose compared to the first two months of the previous year.

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