Missouri net revenues up 5 percent - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Missouri net revenues up 5 percent

Missouri revenue is up. (Source: KFVS) Missouri revenue is up. (Source: KFVS)

JEFFERSON CITY, Mo. (AP) - The state of Missouri brought in 5 percent more in net revenue last fiscal year compared to the previous year.

Data released by Budget Director Dan Haug show revenue growth exceeded expectations for the state fiscal year that ran from July 2017 through the end of June.

Lawmakers crafted a budget based on an estimated 4.2 percent growth over that time period. Budget leaders later cut back expectations, instead projecting only 1.9 percent growth.

The 5 percent net growth was significantly higher than both projections.

Individual income tax collections grew 5.6 percent for the year, and sales tax collections increase 2.3 percent. Corporate income taxes also grew more than 6 percent.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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