JEFFERSON CITY, Mo. — State officials announced today that 2016 fiscal year-to-date general revenue collection increased 5 percent compared to 2015. Acting State Budget Director Dan Haug — who is serving following the long tenure of former director Linda Luebbering’s retirement — released the collections to the press.
This time last year net general revenue collections stood at $1.2 billion, while this year collection has reached $1.26 billion. The increase marks a full 9.6 percent increase for August collections compared to 2014 numbers, from $685.4 million to $751.3 million.
A full breakdown of revenue collections:
Individual income tax collections
- Increased 6.7 percent for the year, from $850.3 million last year to $907.3 million this year.
- Increased 8.0 percent for the month.
Sales and use tax collections
- Increased 5.1 percent for the year, from $343.4 million last year to $361.1 million this year.
- Increased 10.6 percent for the month.
Corporate income and corporate franchise tax collections
- Increased 16.4 percent for the year, from $29.3 million last year to $34.0 million this year.
- Increased 12.1 percent for the month.
All other collections
- Decreased 1.9 percent for the year, from $65.2 million last year to $64.0 million this year.
- Increased 8.5 percent for the month.
Refunds
- Increased 20.5 percent for the year, from $89.8 million last year to $108.2 million this year.
- Decreased 5.4 percent for the month.
Collin Reischman was the Managing Editor for The Missouri Times, and a graduate of Webster University with a Bachelor of Arts in Journalism.
