Revenue collections in Missouri slowed a bit last month, but continued their overall upward trend. From July of 2012 through the end of May, the state took in $7.3 billion dollars in revenues, an increase of more than 10 percent from May of 2012.
The year-to-date increase from April of this year, though, was more than 11 percent. Missouri Budget Director Linda Luebbering blames the drop on fewer sales tax collections, but says the overall revenue trend looks good.
“We’ve definitely had some really good months this year,” Luebbering said. “We’ve been kind of on a little bit of a roller coaster. April, we had a lot of growth in April. I always look at the year-to-date numbers more than anything else, and so [we are] definitely doing well.”
Luebbering credits much of the increase on personal and corporate income tax collections, which rose by more than nine percent and three percent respectively over the past year.
