State Releases March 2021 General Revenue Report

JEFFERSON CITY – State Budget Director Dan Haug announced today that net general revenue collections for September 2021 increased 16.3 percent compared to those for September 2020, from $944.5 million last year to $1.10 billion this year.

Net general revenue collections for 2022 fiscal year-to-date decreased 10.6 percent compared to September 2020, from $3.09 billion last year to $2.76 billion this year.

GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections

  • Decreased 18.9 percent for the year, from $2.35 billion last year to $1.90 billion this year.
  • Increased 17.1 percent for the month.

Sales and use tax collections

  • Increased 22.9 percent for the year, from $599.7 million last year to $736.9 million this year.
  • Increased 20.7 percent for the month. 

Corporate income and corporate franchise tax collections

  • Decreased 22.5 percent for the year, from $234.9 million last year to $182.0 million this year.
  • Increased 55.5 percent for the month.

All other collections

  • Increased 14.7 percent for the year, from $112.0 million last year to $128.5 million this year.
  • Decreased 11.3 percent for the month.

Refunds

  • Decreased 7.5 percent for the year, from $203.9 million last year to $188.7 million this year.
  • Increased 82.3 percent for the month.

Due to the COVID pandemic, the 2020 income tax filing deadlines in April and June were moved to July 15, 2020. Therefore, the comparison of FY21 to FY22 will be negatively impacted throughout FY22.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.

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