JEFFERSON CITY, Mo. (AP) – Missouri revenues continue to exceed expectations for the year.
State Budget Director Dan Haug on Wednesday announced fiscal year-to-date
revenues increased by 2.1 percent as of May. That’s compared to the same time frame last year.
Gov. Mike Parson and lawmakers were banking on a 1.7% increase compared to last fiscal year.
The state’s fiscal year runs from July to June.
Revenues were down considerably earlier this year.
Budget and revenue officials cited changes to withholding tables that meant employers withheld less from workers’ paychecks for income taxes. That meant employees had to pay a bigger chunk of their taxes in April, instead of in smaller payments throughout the year.
Missouri lawmakers raised concerns taxpayers wouldn’t make up the
difference in time. But revenues appear to have bounced back.
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