State's April revenue collections total $933M

With April collections of $933.4 million, Missouri's fiscal year-to-date net general revenue collections increased 3.1 percent to $5.99 billion, compared to $5.81 billion by the same time in the prior fiscal year, according to a news release.

Fiscal 2012 year-to-date gross collections by tax type:

• Individual income tax collections increased 2.8 percent to $4.87 billion, compared to $4.74 billion at the same time in fiscal 2011.
• Sales and use tax collections rose 3.8 percent to $1.52 billion from $1.47 billion.
• Corporate income and franchise tax collections decreased 6.3 percent to $349.9 million from $421.5 million.
• All other collections fell 20 percent to $298.3 million from $372.9 million.
• Refunds dropped 7.8 percent to $1.1 billion from $1.19 billion.

Total April collections increased 6.9 percent compared to the same month of fiscal 2011. April 2012 individual income tax collections increased 1.5 percent; sales and use tax collections rose 3.2 percent; corporate income and franchise tax collections increased 1.8 percent; all other collections decreased 18 percent; and refunds fell 20.8 percent, according to the release.

The release noted the General Revenue Fund repaid $325 million to the Budget Reserve Fund, the total amount it had borrowed.

[[In-content Ad]]