Mo. state revenues climb 9.6 percent in April

Friday, May 4, 2007

JEFFERSON CITY, Mo. (AP) -- State revenues in April were 9.6 percent higher than a year ago, the state Office of Administration reported Friday.

Net general revenue for April was $1.13 billion, compared with $1.03 billion last year. Through the first 10 months of the state's fiscal year, revenues increased by 5.6 percent compared to the same point a year ago.

Budget writers anticipated that revenues would grow by about 4 percent for the fiscal year ending June 30.

Most state revenue comes from individual income taxes, which increased 11.1 percent to $1 billion in April and increased 6.7 percent for the fiscal year to date.

One of the largest gains for the month came from corporate income and franchise taxes. That increased more than 26 percent to $128 million.

Refunds back to taxpayers also increased. For the month, refunds increased 36.7 percent over last year to $217 million and were up 3.9 percent for the year.

Sales tax collections were up 10.2 percent in April -- and 3.1 percent so far this fiscal year -- compared to last year, but the administration office warned that higher energy prices seem likely to hold down consumer spending.

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