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Fri December 2, 2011
Missouri revenue report released
The Missouri revenue report was released today, and though there is an increase in revenue, it is not the increase the state needed.
By Allie Hinds (Columbia, Mo.)
The report shows the general state revenue increased by two percent compared to last year.
Missouri Budget Director Linda Luebbering said to hit the state’s overall revenue estimate for the fiscal year, the increase needed to be just below three percent.
“The good news is we’re starting to see the growth, the bad news is obviously we’re still well below where we would’ve been back in 2008 which was the last year that we really had normal revenue," said Luebbering.
According to the report, the revenue collected from corporations declined 10.7 percent this year, while individual income and sales taxes increased.
Luebbering also said this decrease was not expected and brought the total increase in revenue down.