State revenues down 0.5% for year-to-date

Missouri's year-to-date general revenue collections are down a half percent despite a small gain in April.

For the fiscal year so far, collections are at $6.42 billion, compared to $6.45 billion in the same period a year ago, according to the Office of Administration. Collections in April were $1.02 billion, up 0.3 percent from April 2008.

Sales and use tax collections are down 4.8 percent for the year at $1.57 billion and fell 7 percent in April.

Individual income tax collections are up 1 percent for the year to date at $5.06 billion but dropped 4 percent for the month.

Corporate income and corporate franchise tax collections are down 12 percent for the year at $441.2 million but fell 19.3 percent for the month.

All other collections are down 1.7 percent for the year at $392.3 million and decreased 2.5 percent in April.

Refunds are down 6.1 percent for the year at $1.04 billion and fell 33.4 percent for the month.

"It is likely that revenues will decline even more than the 4 percent decline anticipated in the consensus revenue estimate for fiscal year 2009," Missouri Budget Director Linda Luebbering said in a news release.[[In-content Ad]]