State general revenue collections improve

The state's 2011 fiscal year-to-date net general revenue collections are $4.48 billion, a 6.2 percent increase compared to $4.22 billion at the same time in fiscal 2010, according to a news release from the Missouri Office of Administration.

The state's fiscal year began in July.

Year-to-date breakdown of gross collections by tax type:

• Individual income tax collections increased 3 percent to $3.4 billion, compared to $3.3 billion at the same time last year.
• Sales and use tax collections increased 1.5 percent to $1.2 billion, compared to $1.18 billion.
• Corporate income and corporate franchise tax collections increased 8.1 percent to $276.9 million, compared to $256 million.
• All other collections increased 17.7 percent to $307.9 million, compared to $261.6 million.
• Refunds decreased 9.9 percent to $704.2 million, from $781.3 million.

Net general revenue collections were $352.3 million in February, a 5 percent increase compared to collections of $335.6 million in February 2010, the release said.[[In-content Ad]]