Missouri revenue falls 9.1 percent in 2010 budget year

Friday, July 2, 2010 | 12:26 p.m. CDT

JEFFERSON CITY — Missouri revenues declined by 9.1 percent in the 2010 budget year that ended Wednesday.

The state Office of Administration reported Friday that individual income tax, sales tax and corporate income tax collections all declined last year. State tax refunds increased.

Individual income taxes declined by 7.6 percent. Sales and corporate income taxes each were down by nearly 5 percent. Tax refunds were up 2 percent. Falling state revenue has prompted lawmakers and Gov. Jay Nixon to cut budgets.

Nixon budget director Linda Luebbering says a roughly 9.5 percent revenue shortfall had been expected for last year. Luebbering says budget officials expect revenue to increase by 2.2 percent this year.

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