Mon. Oct 14th, 2024
General revenue across Missouri for the month of December reflected a zero-point-6 percent growth compared to December-2022.
That’s according to figures from the Office of Administration which also reports individual income tax collections were down by more than 50-percent for December for an overall decrease on the year.
Showing collection increases for the year were Pass-Through Entity, sales and use, and corporate income taxes along with refunds and all other collections.
Net general revenue collections for 2024 fiscal year-to-date also decreased in December by 1.7 percent from $6.24 billion in 2022 to $6.13 billion so far this fiscal year.
Here’s the full report:
State Budget Director Dan Haug announced today that net general revenue collections for December 2023 grew 0.6 percent compared to those for December 2022, from $1.08 billion last year to $1.09 billion this year.
Net general revenue collections for 2024 fiscal year-to-date decreased 1.7 percent compared to December 2022, from $6.24 billion last year to $6.13 billion this year.
Pass-Through Entity tax collections were previously reported within Individual Income, which makes growth in Individual Income tax collections appear artificially low.
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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