State Releases June 2017 General Revenue Report

JEFFERSON CITY – Acting State Budget Director Dan Haug announced July 5 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 – 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 30, 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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