Missouri’s general revenues continue to decline

Net general revenue collections for the 2010 fiscal year that began July 1st are headed in the wrong direction.

The September, 2009 General Revenue Report shows those collections have declined 10 percent compared to fiscal year 2009, from $1.90 billion last year to $1.71 billion this year.

Breaking down the numbers, sales and use tax collections decreased 6.7 percent for the year from $494.9 million last year to $461.6 million this year. Individual income tax collections decreased 8.2 percent for the year, from $1.31 billion last year to $1.20 billion this year. Corporate income and corporate franchise collections dipped 9.1 percent for the year, from $124.5 million last year to $113 million this year.