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State of Missouri releases May 2014 General Revenue Report - KOAM TV 7

State of Missouri releases May 2014 General Revenue Report

Updated:

FROM THE STATE OF MISSOURI OFFICE OF ADMINISTRATION

State Releases May 2014 General Revenue Report

JEFFERSON CITY - State Budget Director Linda Luebbering announced today that 2014 fiscal year-to-date net general revenue collections increased 0.2 percent compared to 2013, from $7.30 billion last year to $7.32 billion this year.

Net general revenue collections for May 2014 decreased by 3.0 percent compared to those for May 2013, from $633.7 million to $614.4 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Decreased 0.7 percent for the year, from $5.82 billion last year to $5.78 billion this year.
  • Increased 0.6 percent for the month.

Sales and use tax collections

  • Increased 2.0 percent for the year from $1.74 billion last year to $1.77 billion this year.
  • Decreased 12.0 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 5.3 percent for the year, from $427.1 million last year to $449.7 million this year.
  • Decreased 28.5 percent for the month.

All other collections

  • Decreased 12.9 percent for the year, from $437.2 million last year to $381.0 million this year.
  • Decreased 3.0 percent for the month.

Refunds

  • Decreased 5.0 percent for the year, from $1.13 billion last year to $1.07 billion this year.
  • Decreased 7.7 percent for the month.

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