Fiscal '15 tax revenues up in Mo.

Led by individual income tax collections, Missouri’s monthly and year-to-date sales tax revenues are up through May.

According to the state’s most recent general revenue report, Missouri brought in $649.6 million in May, pushing the fiscal 2015 tally to $7.87 billion, a 7.5 percent increase from last year. On the month, revenue collections are up 6 percent, compared to May 2014.

Fiscal 2015 gross collections by tax type, through May:

• Individual income taxes rose 12 percent in May and 9 percent on the year to $6.29 billion.
• Sales and use tax collections increased 8 percent in May and 3 percent on the year to $1.83 billion.
• Corporate income and franchise tax collections grew 44 percent in the month and 3.5 percent on the year to $465.4 million.
• All other collections decreased 38 percent in May and are down slightly on the year at $379.5 million.
• Refunds jumped 18 percent for the month and 2.5 percent this fiscal year to $1.1 billion.