State Releases February 2017 General Revenue Report

March 2, 2017

JEFFERSON CITY - Acting State Budget Director Dan Haug announced today that 2017 fiscal year-to-date net general revenue collections increased 4.9 percent compared to 2016, from $5.45 billion last year to $5.71 billion this year.

Net general revenue collections for February 2017 increased by 25.2 percent compared to those for February 2016, from $484.3 million to $606.3 million.

 GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 4.0 percent for the year, from $4.28 billion last year to $4.45 billion this year.
Increased 7.0 percent for the month.

Sales and use tax collections
Increased 2.3 percent for the year, from $1.40 billion last year to $1.43 billion this year.
Decreased 3.8 percent for the month.

Corporate income and corporate franchise tax collections
Decreased 25.6 percent for the year, from $273.7 million last year to $203.5 million this year.
Increased 374.7 percent for the month.

All other collections
Increased 22.1 percent for the year, from $217.9 million last year to $266.1 million this year.
Increased 64.0 percent for the month.

Refunds
Decreased 12.1 percent for the year, from $721.3 million last year to $634.3 million this year.
Decreased 26.0 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.

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