State of Missouri releases June revenue report

(From the State Budget Director)

State Budget Director Linda Luebbering announced today that 2014 Fiscal Year net general revenue collections decreased by 1.0 percent compared to 2013, from $8.08 billion last year to $8.00 billion this year.

Net general revenue collections for June 2014 decreased by 12.3 percent compared to those for June 2013, from $781.5 million to $685.7 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Decreased 0.2 percent for the year, from $6.37 billion last year to $6.35 billion this year.
Increased 4.5 percent for the month.

Sales and use tax collections
Increased 3.8 percent for the year from $1.90 billion last year to $1.97 billion this year.
Increased 23.9 percent for the month.

Corporate income and corporate franchise tax collections
Increased 2.9 percent for the year, from $525.7 million last year to $540.7 million this year.
Decreased 7.6 percent for the month.

All other collections
Decreased 10.9 percent for the year, from $470.9 million last year to $419.3 million this year.
Increased 13.8 percent for the month.

Refunds
Increased 8.4 percent for the year, from $1.18 billion last year to $1.28 billion this year.
Increased 288.8 percent for the month.