What it says
Missouri tax revenue has slowly recovered in the decade since the Great Recession. In the fourth quarter of 2017, Missouri brought in $3.2 billion of revenue, back to the state’s peak quarter before the recession, according to Pew Charitable Trusts, a nonprofit that specializes in public interest research.
Why it matters
As the main income for the state, tax revenue is used for funding public expenditures and other items. For decades, Missouri’s tax revenue has been below U.S. average. While slowly recovering from the recession, that revenue has experienced other fluctuations in the past few years.
Missouri’s general revenue collections were down $100 million, or about 6.8 percent, over the first two months of its current fiscal year (not reflected in the chart above). Individual income tax collections, the largest revenue stream, were down 5 percent compared to last year. Corporate income and franchise tax collections dropped 5.4 percent. Meanwhile, sales and use tax collections increased 3.8 percent.