JEFFERSON CITY, Mo. (AP) – Missouri revenues are up 6.6 percent through the first quarter of its budget year.
Figures released Tuesday by the Office of Administration show most the growth resulted from a decline in income tax refunds paid to businesses and individuals compared with last year.
Missouri’s budget year began July 1. Individual income tax collections through September were up about 3.7 percent from the same three-month period last previous year. Sales and use tax collections rose less than 1 percent during that time.
State budget director Linda Luebbering says the overall 6.6 percent growth rate includes a $39 million payment from a settlement with mortgage lenders. Absent that, Missouri’s revenues would be up about 4 percent for the fiscal year.