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Missouri revenues dropping

Tuesday, December 2, 2008 | 7:13 p.m. CST

JEFFERSON CITY — Poor retail sales are contributing to a decline in Missouri tax revenues.

The state Office of Administration said Tuesday that net general revenues are down 3.9 percent compared to the same period in the previous fiscal year through November, the fifth month of the state's fiscal year.

Sales and use taxes were down 7.6 percent from the previous year. Individual income tax revenues were up by 1.3 percent while corporate taxes fell by 13.6 percent compared to the same five-month period in the previous year.

Missouri's 2009 fiscal year began in July 2008 and runs through June 2009.

The budget had assumed a 3.1 percent growth in general revenues.

 


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