Missouri revenues falling short of budget

Wednesday, November 2, 2011 | 4:11 p.m. CDT

JEFFERSON CITY — Missouri's revenues have fallen slightly short of what's needed to meet the budget through the first third of the state fiscal year.

Figures released Wednesday by the state Office of Administration show general revenues rose 1.2 percent through October compared with the same point in the previous fiscal year.

State budget director Linda Luebbering said revenues need to grow at about 2 percent to meet the mark set by the budget.

Missouri's 2012 fiscal year began July 1. So far, sales tax collections are up about 5.5 percent, and individual income tax collections are up 2.5 percent compared with the first four months of last fiscal year. However, corporate tax collections are down 16.8 percent, and the state also has seen declines in other revenue categories.

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