The Missouri Office of Administration is showing a 40-percent increase in net general revenue collections in June of this year compared to last year.

State Budget Director Dan Haug says in a release June 2021 collections totaled 1-point-2 billion dollars, compared to just over 870-million dollars in June of 2020.

Individual income tax collections for June showed more than a 37-percent increase and also a 28.3-percent increase for the year.

 

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JEFFERSON CITY – State Budget Director Dan Haug announced today that net general revenue collections for June 2021 increased 40.2 percent compared to those for June 2020, from $871.0 million last year to $1.22 billion this year.

Net general revenue collections for 2021 fiscal year-to-date increased 25.8 percent compared to June 2020, from $8.93 billion last year to $11.24 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 28.3 percent for the year, from $6.95 billion last year to $8.92 billion this year.
  • Increased 37.3 percent for the month.

Sales and use tax collections

  • Increased 6.7 percent for the year, from $2.28 billion last year to $2.43 billion this year.
  • Increased 8.7 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 72.1 percent for the year, from $463.1 million last year to $797.1 million this year.
  • Increased 141.3 percent for the month.

All other collections

  • Increased 13.1 percent for the year, from $524.8 million last year to $593.5 million this year.
  • Decreased 5.5 percent for the month.

Refunds

  • Increased 16.6 percent for the year, from $1.28 billion last year to $1.50 billion this year.
  • Decreased 59.7 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.

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