Missouri revenue

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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.

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Strong sales tax collections in August helped Missouri's revenues rise more than 4 percent during the first two months of the state's budget year.

Figures released Friday by the state Office of Administration show August sales tax revenues were up 9.6 percent over the same month a year ago. Corporate tax collections also rose while tax refunds fell. That helped offset a slight decline in individual income tax collections and produced a net revenue increase of 6.9 percent for August.


Mo. Gross Revenue Up Slightly

Missouri’s gross revenue collection in July was up by .6 percent as compared to July 2010.

The revenue increase is driven by strong individual income tax collection, which was up 9.3 percent over the same time last year. Sales taxes remain stagnant, according to state budget director Linda Luebbering. She blames low sales tax collection on a stubbornly high unemployment rate.

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Missouri tax revenue is higher than last year, but a dip in individual income tax collections last month has prompted some concern.

Eleven months through the current budget year, revenue has increased from last year by 2.7 percent to $6.5 billion. However, the state Office of Administration reported Thursday that individual income tax collections were down 1.4 percent from May 2011 to May 2010.

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Missouri's tax revenues are up 6.5 percent with only one-quarter of the budget year to go.

Figures released Monday by the state Office of Administration show the growth fueled by stronger individual and corporate income tax collections than during the 2010 fiscal year. A decline in tax refunds also has contributed to the growth in state revenues.

Several local gun stores are reporting an increased demand for tactical weapons and training.
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A judge has issued a temporary restraining order to prevent the Illinois State Police from releasing the names of registered gun owners in the state - something the agency doesn't want to do anyway.

The order was handed down Friday in Peoria. It is the latest chapter in a battle between the state's attorney general and police force over the release of names of the state's Firearm Owners Identification cardholders.

Governor Jay Nixon and the chairmen of the state House and Senate appropriations committee have come to an agreement on the amount of money available for the budget year that starts in June 2011 (FY 2012).

The projected revenue estimate is made every December, and is the figure the governor and lawmakers use to craft budget proposals.