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State revenue collections increase

JEFFERSON CITY, Mo. — State Budget Director Linda Luebbering released the September 2014 General Revenue Report, which showed fiscal year-to-date general revenue collections increasing by 3.8 percent compared to last year.

Collections are at $2.03 billion for the fiscal year so far, compared to $1.95 billon this time last year. The uptick in revenue is a good sign for various line-items in the state’s budget that have their funds currently withheld by Gov. Jay Nixon. Nixon cited concerns about lagging revenues late last spring and through most of the summer when he vetoed more than 100 line items from the state’s Republican-drafted budget.

Republicans engaged in a lengthy series of votes during the veto session to override dozens of Nixon’s line-item vetoes, only to see many of those same items simply have their funding withheld by Nixon.

The state’s Office of Administration provided a breakdown of the revenue collections.

 

Individual income tax collections

Increased 5.7 percent for the year, from $1.34 billion last year to $1.42 billion this year.

Increased 1.8 percent for the month.

 

Sales and use tax collections

Increased 3.6 percent for the year, from $495.1 million last year to $512.8 million this year.

Increased 10.5 percent for the month.

 

Corporate income and corporate franchise tax collections

Decreased 2.9 percent for the year, from $134.9 million last year to $131.0 million this year.

Decreased 2.2 percent for the month.

 

All other collections

Decreased 3.2 percent for the year, from $93.2 million last year to $90.2 million this year.

Decreased 16.5 percent for the month.

 

Refunds

Increased 11.8 percent for the year, from $111.6 million last year to $124.8 million this year.

Decreased 12.4 percent for the month.