MO general revenue collections rise in September

Missouri's September general revenue collections increased 8.3 percent in September compared to the same month a year ago.

The boost to $804.6 million last month brings the 2014 fiscal year-to-date figure to $1.95 billion, up 2.7 percent from $1.9 billion at the same time last fiscal year, according to a news release.

Fiscal 2014 year-to-date gross collections by tax type:

• Individual income tax collections rose 3.8 percent to $1.34 billion this fiscal year from $1.29 billion in the same period a year ago.
• Sales and use tax collections increased 5.1 percent to $495.1 million from $471 million.
• Corporate income and franchise tax collections jumped 28.4 percent to $134.9 million from $105 million.
• All other collections decreased 32.5 percent to $93.2 million from $138 million.
• Refunds increased 5.9 percent to $111.6 million from $105.4 million.

Compared to the same month a year ago, September individual income tax collections increased 5.4 percent; sales and use tax collections rose 16.5 percent; corporate income and franchise tax collections moved up by 35 percent; all other collections saw a 12.7 percent bump; and refunds jumped 94.1 percent, according to the release.