January General Revenue Report Released

The State Revenue Department’s January 2005 General Revenue Report is out, and collections fiscal-year-to-date compared to 2004 fiscal year-to-date collections have increased by 2.8 percent for the year to date. Total general revenue collections fiscal year-to-date have increased by 0.44 percent compared to last fiscal year. Jessica Robinson with the State Revenue Department says individual income tax collections are up, as well. They’ve increased 3.9 percent for the year-to-date, from $2.4-Billion last year to $2.5-Billion this year, and increased 5.6 percent for the month. No reason is given for the increases. But Robinson hopes the reason for the rise in individual income tax collections is the fact more Missourians are filing their income tax returns electronically.