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Press Release: State Releases July 2014 General Revenue Report

   

Today the state released the July General Revenue Report (online here). Please contact Linda Luebbering for questions.

 

For Immediate Release                                                                                                                          Contact:  Linda Luebbering

August 4, 2014                                                                                                                                                                        573-751-2345

 

 

State Releases July 2014 General Revenue Report

 

JEFFERSON CITY – State Budget Director Linda Luebbering announced today that July 2014 net general revenue collections increased 6.5 percent compared to July 2013, from $481.4 million last year to $512.9 million this year.

 

GROSS COLLECTIONS BY TAX TYPE

 

Individual income tax collections

  • Increased 9.2 percent for the year, from $341.9 million last year to $373.4 million this year.

 

Sales and use tax collections

  • Decreased 0.2 percent for the year from $151.3 million last year to $150.9 million this year.

 

Corporate income and corporate franchise tax collections

  • Decreased 7.2 percent for the year, from $18.6 million last year to $17.2 million this year.

 

All other collections

  • Increased 32.6 percent for the year, from $15.4 million last year to $20.4 million this year.

 

Refunds

  • Increased 7.3 percent for the year, from $45.6 million last year to $49.0 million this year.

 

Director Luebbering also noted the General Revenue Fund borrowed $200 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2015.

 

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Ryan Burns

Public Information Officer

State of Missouri Office of Administration

Ryan.Burns@oa.mo.gov

 

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