The October Revenue Report for the Show Me State is now out, and Missouri’s collections for 2020 overall have increased 25.3 percent, compared to 2019.

In total, this year’s revenue is now at $3.72 billion, compared to $2.97 billion in 2019.

For October however, net general collections decreased 4.2 percent compared to 2019, bringing in only $631.9 million compared to $659.6 million last year.

 

State Releases October 2020 General Revenue Report

JEFFERSON CITY, MO – State Budget Director Dan Haug announced today that net general revenue collections for 2021 fiscal year-to-date increased 25.3 percent compared to October 2019, from $2.97 billion last year to $3.72 billion this year.

Net general revenue collections for October 2020 decreased 4.2 percent compared to those for October 2019, from $659.6 million last year to $631.9 million this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 33.7 percent for the year, from $2.12 billion last year to $2.84 billion this year.
  • Decreased 6.5 percent for the month.

Sales and use tax collections

  • Increased 2.1 percent for the year, from $757.4 million last year to $773.6 million this year.
  • Increased 0.1 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 64.7 percent for the year, from $168.4 million last year to $277.3 million this year.
  • Increased 43.2 percent for the month.

All other collections

  • Decreased 0.8 percent for the year, from $133.7 million last year to $132.7 million this year.
  • Increased 35.1 percent for the month.

Refunds

  • Increased 41.1 percent for the year, from $212.2 million last year to $299.2 million this year.
  • Increased 14.2 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.