The state’s 2021 General Revenue Report for October has been released with the numbers showing a healthy increase compared to the same time just a year ago.

State Budget Director Dan Haug says the numbers show more than $775-million in revenue this year compared to just under $632-million for the same month last year.

However, at the same time, net general revenue collections for 2022 fiscal year-to-date decreased by 5-percent compared to the same time in 2020.

 

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JEFFERSON CITY, MO – State Budget Director Dan Haug announced today that net general revenue collections for October 2021 increased 22.7 percent compared to those for October 2020, from $631.9 million last year to $775.3 million this year.

Net general revenue collections for 2022 fiscal year-to-date decreased 5.0 percent compared to October 2020, from $3.72 billion last year to $3.54 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Decreased 11.1 percent for the year, from $2.84 billion last year to $2.52 billion this year.
  • Increased 26.5 percent for the month.

Sales and use tax collections

  • Increased 19.4 percent for the year, from $773.6 million last year to $923.4 million this year.
  • Increased 7.2 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 12.4 percent for the year, from $277.3 million last year to $243.0 million this year.
  • Increased 43.8 percent for the month.

All other collections

  • Increased 10.1 percent for the year, from $132.7 million last year to $146.0 million this year.
  • Decreased 15.4 percent for the month.

Refunds

  • Decreased 0.3 percent for the year, from $299.2 million last year to $298.4 million this year.
  • Increased 15.1 percent for the month.

Due to the COVID pandemic, the 2020 income tax filing deadlines in April and June were moved to July 15, 2020. Therefore, the comparison of FY21 to FY22 will be negatively impacted throughout FY22.

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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