State Releases January 2016 General Revenue Report

February 2, 2016

JEFFERSON CITY - Acting State Budget Director Dan Haug announced today that 2016 fiscal year-to-date net general revenue collections increased 3.4 percent compared to 2015, from $4.80 billion last year to $4.96 billion this year.

Net general revenue collections for January 2016 increased by 7.7 percent compared to those for January 2015, from $734.8 million to $791.6 million. 

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 6.5 percent for the year, from $3.49 billion last year to $3.72 billion this year.
Increased 9.8 percent for the month. 

Sales and use tax collections
Increased 2.7 percent for the year, from $1.17 billion last year to $1.20 billion this year.
Increased 0.4 percent for the month.

Corporate income and corporate franchise tax collections
Decreased 5.2 percent for the year, from $286.4 million last year to $271.5 million this year.
Increased 55.9 percent for the month. 

All other collections
Increased 4.0 percent for the year, from $196.0 million last year to $204.0 million this year.
Increased 3.2 percent for the month.

Refunds
Increased 25.3 percent for the year, from $350.4 million last year to $439.2 million this year.
Increased 17.7 percent for the month.