Missouri continues to enjoy strong state revenue growth as a strengthening economy keeps state revenues moving. The state reports general revenue collections up nearly 5 percent for the year – 3.2 percent if $95-Million from the federal government is not counted. The state counts sales, income and corporate tax collections in the mix. Deputy State Revenue Director Bill Perkins says no one tax is sparking this trend. Perkins dismisses a couple of down notes in the report on cyclical reasons. State general revenue collections in May were 14 percent lower than May of 2003. Perkins says that’s because the state got income tax refunds out sooner than normal. Corporate tax collections dipped 30 percent for the month, but again Perkins chaulks that up to business cycles. He expects both to level out in June, the last month of the fiscal year.
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