Haug releases general revenue collections of year-to-date

JEFFERSON CITY, Mo. – Acting State Budget Director Dan Haug announced today that the 2016 fiscal year-to-date general revenue collections increased 3.6 percent from this time last year, an increase of $70 million from $2.03 billion last year to $2.10 billion this year.

Individual income tax collections went up from $1.42 billion last year to $1.5 billion this year, and sales tax collections also increased a bit from $512.8 million to $523.9 million over the same period. All other collections increased from $90.2 million to $92.1 million.

Corporate income collections decreased by 3.6 percent however, from $131 million last year to $126.3 million, while also decreasing 9.4 percent from Sept. 2014 to Sept. 2015.

Missouri also had a better September than last year as well. Net general revenue collections for Sept. 2015 increased by 1.6 percent compared to those for Sept. 2014, from $828.5 million to $842.1 million.

Haug also announced that Missouri will not be receiving a payment of approximately $50 million anticipated under the tobacco Master Settlement Agreement, based on last month’s ruling by the Missouri Court of Appeals.