Missouri Revenue Rises 2 Percent

Linda Luebbering Photo courtesy of Creative Commons
Linda Luebbering Photo courtesy of Creative Commons

Missouri posted 2014 year-to-date net general revenue collections of $3.11 billion, up 2 percent compared with fiscal year 2013, which the state budget director said “is right on target.”

Linda Luebbering said gains in individual income and sales tax collections drove the increase, but corporate income was “the shining star.” Corporate income and corporate franchise tax collections increased 31.9 percent for the year, from $136.9 million last year to $180.6 million this year.

Luebbering said the increase was attributable to corporations earning more profit and not hiring as fast. Individual income, sales and use tax collections were each up 3 percent for the year.

Read more from the St. Louis Business Journal

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