KBIA Local
(2010-01-05)
JEFFERSON CITY, MO
(KBIA) -
Missouri's tax revenues plunged 10.6% in the first half of the state's budget year. Revenue figures released today show that Missouri had a particularly bad December for individual income tax collections, which are its primary source of money. State budget director Linda Luebbering says continued high unemployment played a role. State officials expect tax payments to improve over the next several months.
The state said yesterday that it expects to end the fiscal year in June with a 6.4% revenue decline.
So far in the fiscal year, individual income tax collections are down 10.4% compared to the first half of the previous year. Corporate taxes are down 13.1%, and sales taxes are down 6.8%. © Copyright 2012, KBIA
