Missouri budget director says state revenues up 3 percent

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

JEFFERSON CITY, Mo. (AP) – Missouri’s budget director says revenue is up 3.4 percent compared to the same time last year.

Director Dan Haug on Thursday announced that the state brought in about $8.1 billion in the current fiscal year through May. At the same time last year, the state had $7.8 billion.

Revenue in May was up 12 percent compared to May 2015.

Individual income tax collections increased more than 4 percent so far this year and more than 12 percent last month. The state’s collected roughly $6.6 billion.

Sales tax revenue also has increased more than 5 percent, from $1.8 billion last year to $1.9 billion this year.

Corporate income taxes have decreased 15 percent this year. The state collected $465 million last year but has brought in only $395 million this year.