State general revenue collections decline in April

Missouri garnered $1.13 billion in general revenue collections during April, a 5 percent decrease compared to the prior year mark of $1.19 billion in the same month.

Compared to April 2013, last month's individual income tax collections decreased 13.5 percent; sales and use tax collections rose 7.7 percent; corporate income and franchise tax collections decreased 1.7 percent; all other collections increased 4.2 percent; and refunds fell by 38.3 percent, according to a news release.

Still, collections for fiscal 2014 showed a slight improvement through April. Tax collections through last month totaled $6.7 billion for the fiscal year, compared to $6.67 billion at the same time in fiscal 2013, according to the release.

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

• Individual income tax collections dropped by 0.8 percent to $5.31 billion from $5.35 billion at the same time in fiscal 2013.
• Sales and use tax collections rose 3.6 percent to $1.61 billion from $1.55 billion.
• Corporate income and franchise tax collections increased 7.1 percent to $433.8 million from $404.8 million.
• All other collections decreased 14.6 percent to $317.4 million from $371.6 million.
• Refunds fell 4.7 percent to $967.7 million from $1.01 billion.