Overall, Missouri's state tax collections higher than expected -- with some caveats
December 2012 was a very good month for the state of Missouriís bottom line, signaling what state Budget Director Linda Luebbering called solid evidence that the stateís economy is coming back.
Decemberís general-revenue income was up 10.7 percent compared to December 2011. Even more important, said Luebbering, was that the fiscal year-to-date revenue collections have increased 7.9 percent from a year ago Ė about twice the initial projected increase.
General-revenue collections through December 31 for FY2013 total $3.77 billion, up from $3.49 billion for the previous fiscal year that ended June 30.
Earlier this month, the consistently stronger-than-expected tax collections prompted state budget officials to up this fiscal yearís expected increase to 4.8 percent, compared to a year ago. The initial projections had called for a general revenue increase of 3.9 percent for FY2013, compared to FY2012.