State collections up in September, down for year

Missouri's net general revenue collections were up slightly in September, but it wasn't enough to offset an overall decline in the year to date.

Collections grew 0.9 percent last month to $826.6 million, but fiscal 2009 to-date revenues are $1.9 billion, down 0.9 percent from this time in 2008, according to a news release.

Sales and use tax collections are down 3.6 percent for the year at $494.9 million, and they were up 15.1 percent for the month.

Individual income tax collections are up 2.3 percent for the year at $1.31 billion, but were down 2.6 percent for the month.

Corporate income and corporate franchise tax collections are down 11.7 percent for the year at $124.5 million and were down 0.5 percent for the month.

All other collections are up 5 percent for the year to $113.7 million and were up 2.3 percent for the month.

Refunds, meanwhile, increased 13.1 percent for the year to $146.3 million and were up 47.1 percent for the month.

"The decline in general revenues over the last quarter is cause for concern but is unsurprising given recent developments in the national economy," Missouri Commissioner of Administration Larry Schepker said in the release. Schepker said the state ended fiscal 2008 with an $833 million balance, which will help offset collection shortfalls.[[In-content Ad]]