Mo. tax collections fall in January

Missouri pulled in $705.8 million in January net general revenue collections, falling 9.5 percent from $779.5 million in the same month of 2013.

Compared to January 2013, last month's individual income tax collections decreased 2.3 percent; sales and use tax collections dropped 9.6 percent; corporate income and franchise tax collections fell 26.3 percent; all other collections fell 38 percent; and refunds rose 73.6 percent, according to a news release.

Still, fiscal 2014 year-to-date collections were up 0.7 percent through January, to $4.57 billion from $4.54 billion at the same time a year earlier.

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

• Individual income tax collections rose 1.8 percent to $3.28 billion through January, compared to $3.22 billion at the same time in fiscal 2013.
• Sales and use tax collections increased 3.7 percent to $1.14 billion from $1.1 billion.
• Corporate income and franchise tax collections jumped 16.8 percent to $227.9 million from $237.9 million.
• All other collections decreased 22.3 percent to $201.5 million from $259.2 million.
• Refunds climbed 19 percent to $331 million from $278.1 million.