Missouri Budget Director Dan Haug released the April General Revenue Net Collection Report.
The report reflects good news for the most part, with an overall increase in personal income tax collections except for a 7.3 percent decrease for the year and a 28.9 percent decrease for the month compared to April 2023. It is shown.
March Fiscal year 2024-to-date net general revenue increased 2.7% from $10.42 billion in 2023 to $10.7 billion this year.
Full report:
Dunn State Budget Director haug Today, we announced that net general revenue for April 2024 increased by 20.3% compared to April 2023, from $1.15 billion last year to $1.38 billion this year.
Net general fund collections from fiscal year 2024 to date increased by 2.7% compared to April 2023, from $10.42 billion last year to $10.7 billion this year.
Total collection amount by tax type
Collection of personal income tax
- For the year, it decreased by 7.3% from $7.96 billion last year to $7.38 billion this year.
- It rose 10.6% for the month.
Pass-through entity tax collection
- This year it increased from $0 to $537.2 million.
Sales and use tax collection
- For the year, it increased by 10.2% from $2.42 billion last year to $2.67 billion this year.
- In the same month, it increased by 22.1%.
Collection of corporate income tax and corporate franchise tax
- For the year, it increased by 2.2%, from $795.2 million last year to $812.6 million this year.
- It rose 4.5% for the month.
All other collections
- For the year, it increased by 21.2%, from $634.6 million last year to $769.1 million this year.
- In the same month, it decreased by 28.9%.
refund
- For the year, it increased by 5.5% from $1.4 billion last year to $1.47 billion this year.
- It rose 2.0% for the month.
Pass-through entity tax collections were previously reported within personal income, making the growth in personal income tax collections appear artificially low.
The numbers included in the monthly general income report represent a snapshot in time and can fluctuate significantly based on a number of factors.
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