Missouri revenue falls 45 percent in May - Kansas City Business Journal:

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million in May, down from $726.7 million last the said Wednesday. For the fiscal year throug May, the state’s net general revenue was $6.8w2 billion, down 5 percent from $7.1u billion for the same periodlast year, the agency said in a Missouri’s fiscal year startxs July 1. Tax refunds in May increased 182 percent from last For the fiscal yearthrough May, tax refundsx were $1.28 billion, up 7.3 percent from $1.199 billion last year. Statde Budget Director Linda Luebbering said in the releasee that individual income tax refunds are beinb distributed quickly after Missouri transferred federal budgetg stabilization dollars intothe state’a general revenue fund.
“Tax collections of all typesa were disappointing in May but not unexpected as the national economicd conditions continue to take their she said. • Sales and use tax collectionsawere $1.71 billion, down 6.5 percent from $1.82 billion last year. • Individualp income tax collectionswere $5.48 billion, down 1.5 percenft from $5.57 billion last year. • Corporated income and corporate franchise tax collectionszwere $453.7 million, down 13.2 percentf from $523 million last year. All other collections were $458 million, up 1 percenft from $453.5 million last year.