State, local government tax revenue down slightly in 2Q

Nationwide, state and local government tax revenue decreased slightly to $309.5 billion in the second quarter compared to $309.7 billion in the same quarter of 2013, according to data released yesterday by the U.S. Census Bureau.

The data is an estimated figure comprising property, individual income, sales and corporate income taxes across all 50 states. While property and sales taxes experienced growth in the second quarter, those increases were offset by drops in individual and corporate income taxes, according to a news release.

Governments in Missouri made up $3.3 billion, or about 1.3 percent, of the nationwide total. In the Show-Me State, the largest portion of revenue for municipalities came from individual income taxes, at $1.6 billion during the second quarter.