Linda Luebbering | Photo courtesy of Creative Commons

Missouri Revenue Drops 5 Percent, Surplus Balancing Budget



Net general revenue collections – the money used to pay for most state services – dropped 5 percent in April, compared to April 2013, a decline of only $50 million. April’s numbers showed a sharp decline of 13.5 percent in revenue from individual income tax collections. That’s because individual income tax filings, filed in April for the 2013 tax year, showed a sharp drop in what people owed in state taxes.

State Budget Director Linda Luebbering said that taxes withheld from current workers’ paychecks actually rose 5 percent for the month. Sales tax collections also were up in April by 7.7 percent, compared to April 2013.

For the entire fiscal year, which runs through June 30, the state’s general-revenue income is up only .5 percent over the previous fiscal year. The current budget had been based on an overall year increase of 2.1 percent. Luebbering emphasized that the current budget, which runs through June 30, is not in danger because the state ended fiscal year 2013 with a hefty surplus.

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