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Missouri tax revenues up 6.5 percent through March

Monday, April 4, 2011 | 4:19 p.m. CDT

JEFFERSON CITY — 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 was 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.

State sales taxes have remained relatively flat through the first nine months of the fiscal year, even though they declined by 5.7 percent in March compared with the same month last year.

Individual income tax collections were up 6 percent in March while corporate income and franchise tax collections rose 8.4 percent compared with March 2010.

 


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