Missouri general revenue collections decrease in August

Missouri's general revenue collections were down in August, the second month of the state's fiscal year.

Net general revenue collections in August were $942.7 million, a 9.3% drop from $1.04 billion in the same month of 2023, according to a news release from the Missouri Office of Administration.

For the first two months of fiscal 2025, collections declined by 8.3% to roughly $1.8 billion from $1.9 billion at the same time last fiscal year.

Gross collections by tax type for fiscal 2025 are below:
• Individual income tax collections decreased 8.5% during the first two months to $1.1 billion.
• Pass-through-entity tax collections are at $36.2 million. Officials say pass-through entity tax collections previously were reported with individual income.
• Sales and use tax collections fell by 5.8% to $596.1 million.
• Corporate income and corporate franchise tax collections were down 8.1% to $56.5 million.
• All other collections increased by 0.4% to $143.8 million.
• Refunds rose by 37.6% to $187.7 million.