Missouri revenues
10:24 am
Wed May 2, 2012

Mo. tax revenue performance improves

For the first time this fiscal year, Missouri's state revenues are growing above the rate needed to balance the budget.

The state Office of Administration released figures on Wednesday that show Missouri's net revenues were up 3.1 percent through April - or the first 10 months of the fiscal year. The 2012 budget is based on 2.7 percent growth.

That's due partly to Missouri paying less in tax refunds than last year. But tax collections also grew. Sales and use taxes were up 3.8 percent compared with the same point in the 2011 fiscal year, and individual income tax collections were up 2.8 percent.