Missouri tax revenue down 2.9 percent in first half of fiscal year

Missouri tax revenues decreased by 2.9 percent during the first half of this fiscal year, the Associated Press reports.

Missouri took in $4.3 billion in revenue through the first six months of the 2019 fiscal year. This represents a $128 million decrease from the previous fiscal year.

Individual income tax collections dropped by 3.7 percent, while sales tax revenue grew by 4.1 percent.

However, budget officials expect state revenue increase 1.7 percent by the end of the fiscal year. Missouri State Budget Director Dan Haug says income tax collections will rise in the coming months due to individuals filing tax returns for the first time since the state corrected an error in withholding tax tables.

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