Missouri releases July 2023 general revenue report

JEFFERSON CITY, Mo. – State Budget Director Dan Haug announced today that 2024 fiscal year-to-date net general revenue collections decreased 7.4 percent compared to July 2022.

Haug said collections dropped from  $970.3 million last year to $898.7 million this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Decreased 19.5 percent for the year, from $684.0 million last year to $550.8 million this year.

Sales and use tax collections

• Increased 37.3 percent for the year, from $248.5 million last year to $341.2 million this year.

Corporate income and corporate franchise tax collections

• Decreased 17.6 percent for the year, from $51.5 million last year to $42.5 million this year.

All other collections

• Increased 40.2 percent for the year, from $38.3 million last year to $53.7 million this year.

Refunds

• Increased 72.1 percent for the year, from $52.0 million last year to $89.6 million this year.

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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• July 2023 (FY 24) GR.xlsx