Saturday, April 3, 2010

State Releases March 2010 General Revenue Report - As Published by the Missouri Office of Admnistration

Office of Administration News

April 2, 2010
State Budget Director Linda Luebbering announced today that 2010 fiscal year-to-date net general revenue collections declined 13.3 percent compared to fiscal year 2009, from $5.40 billion last year to $4.68 billion this year. 
 Net general revenue collections for March 2010 decreased by 17.8 percent compared to those for March 2009, from $561.9 million to $461.7 million.
 Director Luebbering also noted the state borrowed $100 million from the Budget Reserve Fund for cash flow purposes in March.  This brings the total borrowed for the year to $450 million, which will be repaid by May 15.

 GROSS COLLECTIONS BY TAX TYPE

 Individual income tax collections
  • Decreased 9.4 percent for the year, from $4.15 billion last year to $3.76 billion this year.
  • Increased 2.7 percent for the month.
 Sales and use tax collections
  • Decreased 6.8 percent for the year from $1.43 billion last year to $1.34 billion this year.
  • Decreased 3.9 percent for the month.
 Corporate income and corporate franchise tax collections
  • Decreased 12.5 percent for the year, from $349.7 million last year to $306.0 million this year.
  • Decreased 9.1 percent for the month.
 All other collections
  • Decreased 7.5 percent for the year, from $355.1 million last year to $328.5 million this year.
  • Decreased 14.7 percent for the month.
 Refunds
  • Increased 17.5 percent for the year, from $890.9 million last year to $1.05 billion this year.
  • Increased 50.8 percent for the month.

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