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Most state Govts don't run on sales tax, local Govt's run on sales Tax. Mo State Sales tax is 4.225%. MO is currently 100 million or more short on receipts for the year. That would be 23 BILLION difference in total sales in the State. Is that reasonable? Are companies like Amazon showing receipts up by these amounts? We would be talking Hundreds of Billions of Dollars. Here's a release from the state of MO.
"JEFFERSON CITY, MO (KBIA) - Missouri's tax revenues plunged 10.6% in the first half of the state's budget year. Revenue figures released today show that Missouri had a particularly bad December for individual income tax collections, which are its primary source of money.
State budget director Linda Luebbering says continued high unemployment played a role. State officials expect tax payments to improve over the next several months.
The state said yesterday that it expects to end the fiscal year in June with a 6.4% revenue decline.
So far in the fiscal year, individual income tax collections are down 10.4% compared to the first half of the previous year. Corporate taxes are down 13.1%, and sales taxes are down 6.8%. © Copyright 2010,"
So, income tax and corporate tax(profits) are down more than sales tax receipts. I'll also note, that, just this week, Gov Nixon announced that Tax receipts were coming in "below projections" for whatever that's worth. | |
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Comments on state tax receipts
