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July 4, 2013Jefferson City, MO | By: AP
A new report shows Missouri collected more revenue than expected in the budget year that ended June 30.
Figures released Wednesday show the state's general revenues totaled about $8.1 billion in the 2013 budget year. That's an increase of more than 10 percent from the previous fiscal year. It also topped the roughly $7.7 billion officials had projected in writing the 2013 budget. Gov. Jay Nixon's budget office says individual income tax collections rose 9 percent compared with the 2012 fiscal year, while corporate income taxes were up 4.5 percent. Collections from sales taxes increased 1.3 percent.