Missouri tax revenues still lagging behind budget

Friday, February 3, 2012

JEFFERSON CITY, Mo. (AP) — Missouri’s revenues continue to lag behind what’s needed to balance the budget.

Figures from January show that net state revenues grew 2 percent over the same month last year. For the first seven months of the 2012 fiscal year, which began last July, Missouri’s general revenues were up 1.3 percent.

That’s about half the 2.7 percent growth rate that the governor’s budget office says is needed to meet the budget.

Missouri gets most of its general revenues from individual income and sales taxes. Both of those categories are up about two-and-a-half percent for the fiscal year. But corporate taxes are down nearly 11 percent.

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JCLifer 3 months, 2 weeks ago

State workers- There goes your pay raises!

JMO 3 months, 2 weeks ago

Yeah, we were so banking on that actually happening.

clingingredneck 3 months, 2 weeks ago

Gee, corporate taxes are down. Who would have thunk that corporations wouldn't just stand there while you rape them, they'd get up and leave. Stupid liberals.

viktorkowski 3 months, 2 weeks ago

the corporate tax rate in missouri is reasonable. revenue is down because people are not spending. people are not spending because they don't have jobs. it's a vicious cycle that will repeat itself until those in power wise up and realize it pays to invest in their workers

bewareignorance 3 months, 2 weeks ago

Those poor-poor mistreated corporate souls, they're down mainly because of the 'sell out the workers and Joe average citizen' outrageous tax incentives they stuff their greedy pockets with and that benefit nobody but them and the lobbyist’s bought and paid for politicians. Ignorant ultra rightwing cons.

Graceful 3 months, 2 weeks ago

No, there is no "sell out." They try to make money. That is the American way. Threr are too may demands and restrictions placed on them. It costs money and they don't have as much to put into hiring as they may like. That and the wretched economy caused by excessive federal government meddling makes for bad times.

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