Missouri’s net revenue collections increased in October

JEFFERSON CITY, Mo. – State Budget Director Dan Haug announced today that net general revenue collections for October 2022 grew 16.7 percent compared to those for October 2021, from $775.3 million last year to $904.4 million this year.

Net general revenue collections for 2023 fiscal year-to-date increased 17.1 percent compared to October 2021, from $3.54 billion last year to $4.14 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Increased 15.0 percent for the year, from $2.52 billion last year to $2.90 billion this year.
• Increased 15.9 percent for the month.

Sales and use tax collections

• Increased 8.2 percent for the year, from $923.4 million last year to $999.4 million this year.
• Increased 24.1 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 25.1 percent for the year, from $243.0 million last year to $303.9 million this year.
• Decreased 27.6 percent for the month.

All other collections

• Increased 51.9 percent for the year, from $146.0 million last year to $221.7 million this year.
• Increased 69.9 percent for the month.

Refunds

• Decreased 4.2 percent for the year, from $298.4 million last year to $285.9 million this year.
• Increased 9.1 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.