Missouri’s tax income grew nearly 15% in September

JEFFERSON CITY, MO – State Budget Director Dan Haug announced today that net general revenue collections for September 2022 grew 14.7 percent compared to those for September 2021, from $1.10 billion last year to $1.26 billion this year.

Net general revenue collections for 2023 fiscal year-to-date increased 17.2 percent compared to September 2021, from $2.76 billion last year to $3.24 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Increased 14.8 percent for the year, from $1.90 billion last year to $2.18 billion this year.
• Increased 8.5 percent for the month.

Sales and use tax collections

• Increased 4.2 percent for the year, from $736.9 million last year to $768.0 million this year.
• Increased 0.8 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 42.7 percent for the year, from $182.0 million last year to $259.7 million this year.
• Increased 47.9 percent for the month.

All other collections

• Increased 49.4 percent for the year, from $128.5 million last year to $192.0 million this year.
• Increased 16.3 percent for the month.

Refunds

• Decreased 11.9 percent for the year, from $188.7 million last year to $166.3 million this year.
• Decreased 35.8 percent for the month.

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