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Missouri releases August 2021 general revenue report

  

JEFFERSON CITY, Mo. — State Budget Director Dan Haug announced today that net general revenue collections for August 2021 decreased 3.0 percent compared to those for August 2020, from $991.6 million last year to $962.2 million this year.

Net general revenue collections for 2022 fiscal year-to-date decreased 22.5 percent compared to August 2020, from $2.15 billion last year to $1.66 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Decreased 32.3 percent for the year, from $1.71 billion last year to $1.16 billion this year.
Decreased 14.8 percent for the month.

Sales and use tax collections
Increased 23.9 percent for the year, from $412.3 million last year to $510.7 million this year.
Increased 29.4 percent for the month.

Corporate income and corporate franchise tax collections
Decreased 64.5 percent for the year, from $152.8 million last year to $54.2 million this year.
Decreased 25.3 percent for the month.

All other collections
Increased 70.1 percent for the year, from $35.8 million last year to $61.0 million this year.
Increased 137.5 percent for the month.

Refunds
Decreased 26.8 percent for the year, from $167.7 million last year to $122.7 million this year.
Decreased 0.1 percent for the month.

Due to the COVID pandemic, the 2020 income tax filing deadlines in April and June were moved to July 15, 2020. Therefore, the comparison of FY21 to FY22 will be negatively impacted throughout FY22.

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