State releases August 2023 General Revenue Report

JEFFERSON CITY, Mo. – State Budget Director Dan Haug announced today that net general revenue collections for August 2023 grew 3.1 percent compared to those for August 2022, from $1.01 billion last year to $1.04 billion this year.

Net general revenue collections for 2024 fiscal year-to-date declined 2.0 percent compared to August 2022, from $1.98 billion last year to $1.94 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Decreased 10.3 percent for the year, from $1.38 billion last year to $1.24 billion this year.
• Decreased 1.2 percent for the month.

Sales and use tax collections

• Increased 17.2 percent for the year, from $539.9 million last year to $632.9 million this year.
• Increased 0.1 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 13.2 percent for the year, from $70.8 million last year to $61.5 million this year.
• Decreased 1.4 percent for the month.

All other collections

• Increased 26.2 percent for the year, from $113.4 million last year to $143.2 million this year.
• Increased 19.1 percent for the month.

Refunds

• Increased 10.1 percent for the year, from $123.9 million last year to $136.4 million this year.
• Decreased 34.8 percent for the month.