Springfield, MO

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Mo. year-to-date revenue drops in fiscal 2011

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Missouri's net general revenue collections are down 1.4 percent two months into fiscal 2011, despite a rise in August collections, according to the state's recent budget report.

State Budget Director Linda Luebbering reported fiscal 2011 year-to-date revenue of $1.04 billion, compared to $1.06 billion collected in July and August 2009. The 2011 fiscal year began July 1.

Net general revenue collections for August rose 0.8 percent to $594 million, compared to $589.5 million in August 2009, the report said.

The breakdown

  • Individual income tax collections increased 1.7 percent in fiscal 2011 year-to-date to $751.3 million. The month saw 3.6 percent growth, compared to August 2009.
  • Sales and use tax collections decreased 4.2 percent on the fiscal year to $305.2 million. An increase of 0.3 percent was recorded for the month from August 2009.
  • Corporate income and corporate franchise tax year-to-date collections were flat at $36.8 million. The tax revenue dropped 24.1 percent during the month of August, compared to August 2009.
  • All other collections increased 20.3 percent to $82.1 million in fiscal 2011. August results were 8.2 percent greater than August 2009.
  • State refunds increased 27.9 percent in fiscal 2011 to $132 million.
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