State Revenue Forecast to Rise

Posted by Warren Krech on December 19, 2012

Missouri budget officials are forecasting continued growth in state revenues for the next fiscal year. Governor Jay Nixon and legislative budget leaders said Tuesday they are projecting a 3.1% increase in state revenues for the annual budget that starts July 1.

State officials expect an economic growth rate of 4.8%. But state revenues are expected to rise by just 3.1% because of the continued phase-out of Missouri’s corporate income tax, the loss of one-time funding sources and changes to federal payroll taxes.

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