MO Project: Contextual Branding

State Releases April 2020 General Revenue Report

May 7, 2020

State Budget Director Dan Haug announced today that net general revenue collections for April 2020 decreased 54.3 percent compared to those for April 2019, from $1.59 billion last year to $725.2 million this year.

Net general revenue collections for 2020 fiscal year-to-date decreased 6.1 percent compared to April 2019, from $8.02 billion last year to $7.53 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Decreased 9.6 percent for the year, from $6.42 billion last year to $5.8 billion this year.
  • Decreased 63.9 percent for the month.

Sales and use tax collection

  • Increased 2.3 percent for the year, from $1.84 billion last year to $1.88 billion this year.
  • Increased 0.2 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 11.4 percent for the year, from $435.1 million last year to $385.7 million this year.
  • Decreased 66.3 percent for the month.

All other collections

  • Decreased 2.0 percent for the year, from $405.4 million last year to $397.3 million this year.
  • Increased 1.8 percent for the month.

Refunds

  • Decreased 13.5 percent for the year, from $1.08 billion last year to $934.1 million this year.
  • Decreased 81.2 percent for the month.

Director Haug noted the General Revenue Fund borrowed $100 million from the Budget Reserve Fund for cash flow purposes.

Director Haug also noted the General Revenue Fund repaid the $100 million borrowed from the Budget Reserve Fund during fiscal year 2020, well ahead of the Constitutional deadline of May 15th.

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