Tuesday, April 2, 2013

State Releases March 2013 General Revenue Report




Missouri Office of Administration Doug Nelson
 
April 2, 2013



JEFFERSON CITY, MO -- State Budget Director Linda Luebbering announced today that 2013 fiscal year-to-date net general revenue collections increased 8.3 percent compared to 2012, from $5.06 billion last year to $5.48 billion this year.
Net general revenue collections for March 2013 increased by 4.6 percent compared to those for March 2012, from $512.4 million to $536.1 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
  • Increased 5.3 percent for the year, from $4.00 billion last year to $4.21 billion this year.
  • Increased 3.9 percent for the month.

Sales and use tax collections
  • Increased 0.8 percent for the year, from $1.40 billion last year to $1.41 billion this year.
  • Increased 1.2 percent for the month.

Corporate income and corporate franchise tax collections
  • Increased 4.3 percent for the year, from $302.9 million last year to $315.8 million this year.
  • Increased 9.8 percent for the month.

All other collections
  • Increased 25.7 percent for the year, from $269.3 million last year to $338.6 million this year.
  • Decreased 6.8 percent for the month.

Refunds
  • Decreased 12.4 percent for the year, from $912.0 million last year to $798.9 million this year.
  • Decreased 0.7 percent for the month.

Director Luebbering also noted the General Revenue Fund borrowed $175 million from the Budget Reserve Fund for cash flow purposes, bringing the total borrowed to $375 million for the fiscal year. The funds will be repaid before the Constitutional deadline of May 15, 2013.

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