Revenue collections rise in all areas

Year-to-date net general revenue collections reached $6.6 billion last month, a 9.3 percent increase from the same period last year, according to a report by the state’s Office of Administration.

Revenue collections in May were $621.7 million, representing a 20.4 percent increase from May 2005.

All Missouri collections are up for the year to date.

Corporate income and corporate franchise tax collections experienced the greatest jump at $515 million for the year to date, up from $395.5 million last year.

Sales and use tax collections increased 2.2 percent for the year to $1.83 billion. Those collections rose 12 percent for the month.

Individual income tax collections climbed 10.4 percent for year-to-date 2006 to $4.9 billion and increased 3.6 percent for the month.

All other collections increased 0.3 percent for the year, from $427.2 million last year

to $428.6 million this year; they increased 7.6 percent in May.

Refunds in May declined for the third month in a row; the state had been issuing record-high refunds for several months until March. Those figures are up 6.2 percent for the year at $1.01 billion but were down 18.6 percent in May.