Missouri Revenue is Up
Jefferson City, MO – The state's number-crunchers are pleased
to see that tax revenues were up slightly last month. But they say it's no cause for celebration.
July's revenue report shows that state tax collections were up nearly eight and a half percent over July of last year.
However, budget director Linda Luebbering says the increase is misleading.
Last year, the state was late in issuing its individual income tax refunds. Many of the checks weren't mailed until July. This
year almost all the checks were sent out in June, so there was less of an impact last month.
When accounting for the difference, the July tax collections grew by barely two percent compared to the previous year.
Luebbering says the increase is good news, but not wonderful.