Mo. revenues slightly ahead of budget for 2012
Wednesday, May 2, 2012
JEFFERSON CITY, Mo. (AP) — Missouri revenues are coming in a little above what was expected for the budget.
Figures released Wednesday by the state Office of Administration show Missouri’s net revenues were up 3.1 percent through April, a period that covers the first 10 months of the state fiscal year. That’s slightly ahead of the projected 2.7 percent growth upon which the 2012 budget was based.
The balance is due partly to Missouri paying less in tax refunds than it did in the previous year. But the state also saw growth in tax collections. Sales and use taxes were up 3.8 percent compared with the same point in the 2011 fiscal year. Individual income tax collections were up 2.8 percent compared with the previous year.