JEFFERSON CITY, MO - State Budget Director Linda Luebbering announced today that July 2012 net general revenue collections increased 11.8 percent compared to July 2011, from $452.2 million last year to $505.7 million this year.  July is the first month of Fiscal Year 2013.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Decreased 3.4 percent, from $353.4 million last year to $341.3 million this year.

Sales and use tax collections

• Increased 14.8 percent, from $126.7 million last year to $145.4 million this year.

Corporate income and corporate franchise tax collections

• Increased 9.4 percent, from $15.4 million last year to $16.8 million this year.

All other collections

• Increased 144.9 percent, from $22.9 million last year to $56.0 million this year.

Refunds

• Decreased 18.8 percent from $66.2 million last year to $53.7 million this year.

Director Luebbering also noted the General Revenue Fund borrowed $100 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2013.

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