tax revenue | KBIA

tax revenue

Meiying Wu / KBIA

Missouri’s state budget director on Thursday said plummeting revenues amid the coronavirus pandemic are unlike anything he’s ever seen.

Budget Director Dan Haug on Thursday announced net revenue collections dropped more than 54% in April this year compared to April 2019. Haug said delaying Tax Day from April 15 to July 15 likely took a significant hit on revenue collections last month.

Overall state revenues decreased more than 6% so far this year compared to the same time last year.

The Columbia City Council approved the creation of a new Columbia Parks and Recreation Fund Monday. The fund will help the department seek donations from corporations to benefit different facilities and programs.

Mike Griggs, the Parks and Recreation director, said the department has to find other sources of revenue to meet increasing operating expenses due to lack of sales tax revenue in Colombia.

“Right now we are looking at it as a way to help generate some extra revenue to help those programs and facilities where we currently don't have adequate funding,” Griggs said.

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Missouri appears increasingly likely to finish its budget year with less revenue than had been expected.

File Photo / KBIA

Gov. Jay Nixon says he would enact an income tax cut, if lawmakers agree to several contingencies.

Missouri's tax revenues were down in January but remain on an overall pace that is a little ahead of the previous fiscal year.

File photo / KBIA

Missouri Gov. Jay Nixon has signed legislation allowing for an additional $219 million in state spending during the current fiscal year.

stopnlook / FLICKR

Missouri lawmakers are looking for ways to collect taxes from some online and out-of-state retailers.
State budget officials estimate that Missouri could gain about $10 million annually in tax revenues if legislation filed in both the House and Senate were to pass.

The bills address two areas that traditional retail stores contend put them at a disadvantage. One provision would require Missouri taxes to be collected on out-of-state retailers that personally deliver products like furniture and appliances to Missouri homes.