Office of Administration reports sharp November income downturn
Missouri’s Office of Administration released a report late this afternoon that confirmed the state’s worsening financial picture.
The report’s revenue-collections breakdown lays it all out, by comparing this November’s tallies with those of a year ago:
GROSS COLLECTIONS BY TAX TYPE
Sales and use tax collections
· Deceased 7.6 percent for the year, from $853.9 million last year to $788.9 million this year.· Decreased 23.1 percent for the month.
Individual income tax collections
· Increased 1.3 percent for the year, from $2.06 billion last year to $2.09 billion this year.· Decreased 2.0 percent for the month.
Corporate income and corporate franchise tax collections· Decreased 13.6 percent for the year, from $189.7 million last year to $164.0 million this year.
· Decreased 23.6 percent for the month.
All other collections
· Decreased 4.0 percent for the year, from $174.4 million last year to $167.3 million this year.
· Decreased 20.3 percent for the month.
Refunds
· Increased 21.1 percent for the year, from $229.6 million last year to $278.2 million this year.· Increased 59.5 percent for the month.


Individual income taxes increased, and corporate income taxes decreased.
I thought that was the goal of Republican “trickle down” economics?
Seems to have worked so well on the national level.