State Releases June 2017 General Revenue report

State Budget Director Dan Haug announced 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.