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Missouri Tax Revenues Increase 1.9 Percent

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JEFFERSON CITY, Mo. (AP) — A new report says Missouri’s revenues are up 1.9 percent in the current fiscal year compared with the same time last year.

Tuesday’s figures from the state Office of Administration cover the first three months of the 2012 budget year, which began July 1.

The report shows individual income taxes up 2.2 percent and sales tax revenue up 3.1 percent over the same period a year ago. But corporate tax collections from July through September are down more than 20 percent.

A roughly 22 percent decline in state tax refunds this year also has helped to boost revenue.

However, the state’s September tax revenues were 1.5 percent less than collections from the same month a year ago.

Copyright 2011 The Associated Press

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