State Releases December 2016 General Revenue Report

January 4, 2017

JEFFERSON CITY - Acting State Budget Director Dan Haug announced today that 2016 fiscal year-to-date net general revenue collections increased 2.2 percent compared to 2015, from $4.17 billion last year to $4.26 billion this year.

Net general revenue collections for December 2016 increased by 0.3 percent compared to those for December 2015, from $810.7 million to $813.1 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 3.5 percent for the year, from $3.05 billion last year to $3.15 billion this year.
Increased 0.6 percent for the month.

Sales and use tax collections
Increased 1.2 percent for the year, from $1.04 billion last year to $1.05 billion this year.
Decreased 11.8 percent for the month.

Corporate income and corporate franchise tax collections
Decreased 26.5 percent for the year, from $244.9 million last year to $179.9 million this year.
Decreased 24.4 percent for the month.

All other collections
Increased 16.7 percent for the year, from $183.7 million last year to $214.4 million this year.
Increased 35.1 percent for the month.

Refunds
Decreased 1.4 percent for the year, from $343.9 million last year to $339.1 million this year.
Decreased 35.6 percent for the month.

Acting Director Haug also noted the General Revenue Fund borrowed $50 million from the Budget Reserve Fund for cash flow purposes.  The funds will be repaid before the Constitutional deadline of May 15, 2017.