MO tax collections increase 11% in October

Missouri's general revenue collections totaled $522 million in October, an 11 percent increase compared to $470.1 million in the same month of 2011.

The latest month's collections bring the state's fiscal year-to-date figure up 7.5 percent to $2.42 billion from $2.25 billion during the same time period in fiscal 2012, according to a news release.

Fiscal 2013 year-to-date gross collections by tax type:

• Individual income tax collections increased 3.2 percent to $1.68 billion from $1.63 billion.
• Sales and use tax collections are up 2.7 percent, to $617.5 million from $601.3 million.
• Corporate income and franchise tax collections rose 1.8 percent to $129.9 million from $127.7 million.
• All other collections jumped 34.3 percent to $165.7 million from $123.3 million.
• Refunds decreased 25.1 percent to $168.1 million from $224.4 million.

Compared to the same month in the prior fiscal year, October individual income tax collections increased 1.7 percent; sales and use tax collections rose 9.1 percent; corporate income and franchise tax collections saw a 3.1 percent increase; all other collections bumped up 59.2 percent; and refunds fell 26 percent, according to the release.