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News Brief

June 6, 2019Jefferson City, MO |  By: AP

Missouri revenues exceed expectations for the year

Missouri revenues continue to exceed expectations for the year.

State Budget Director Dan Haug yesterday announced fiscal year-to-date
revenues increased by 2.1% as of May. That's compared to the same time frame
last year.

Governor Mike Parson and lawmakers were banking on a 1.7% increase compared to last
fiscal year.

The state's fiscal year runs from July to June.

Revenues were down considerably earlier this year.

Budget and revenue officials cited changes to withholding tables that meant
employers withheld less from workers' paychecks for income taxes. That meant
employees had to pay a bigger chunk of their taxes in April, instead of in
smaller payments throughout the year.

Missouri lawmakers raised concerns that taxpayers wouldn't make up the
difference in time. But revenues appear to have bounced back.