State releases June 2017 General Revenue Report

  

JEFFERSON CITY – State Budget Director Dan Haug announced today that 2017 fiscal year-to-date net general revenue collections increased 2.6 percent compared to 2016, from $8.79 billion last year to $9.02 billion this year.

Net general revenue collections for June 2017 increased by 2.5 percent compared to those for June 2016, from $650.1 million to $666.4 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

*   Increased 2.3 percent for the year, from $7.16 billion last year to $7.32 billion this year.
*   Increased 4.2 percent for the month.

Sales and use tax collections

*   Increased 2.1 percent for the year, from $2.10 billion last year to $2.15 billion this year.
*   Increased 5.3 percent for the month.

Corporate income and corporate franchise tax collections

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*   Decreased 7.1 percent for the year, from $468.3 million last year to $435.1 million this year.
*   Increased 14.9 percent for the month.

All other collections

*   Increased 14.4 percent for the year, from $462.6 million last year to $529.3 million this year.
*   Increased 21.6 percent for the month.

Refunds

*   Increased 0.8 percent for the year, from $1.40 billion last year to $1.42 billion this year.
*   Increased 16.4 percent for the month.

According to Joel Walters, Department of Revenue Director, “As of June 30th, as required by law, all timely-filed tax refunds and interest owed were paid to Missouri taxpayers, with the exception of those requiring a manual review. The department remains committed to issuing refunds as quickly as possible.”

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.

  

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