State Releases July 2017 General Revenue Report

August 2, 2017

JEFFERSON CITY - State Budget Director Dan Haug announced today that July 2017 net general revenue collections increased 5.7 percent compared to July 2016, from $543.1 million last year to $574.2 million this year. 

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 6.6 percent for the year, from $415.4 million last year to $443.0 million this year.

Sales and use tax collections
Decreased 2.3 percent for the year from $154.4 million last year to $150.9 million this year.

Corporate income and corporate franchise tax collections
Increased 34.9 percent for the year, from $13.0 million last year to $17.6 million this year.

All other collections
Increased 195.7 percent for the year, from $6.2 million last year to $18.4 million this year.

Refunds
Increased 21.2 percent for the year, from $46.0 million last year to $55.7 million this year.

Note: The FY2018 total refund line includes Debt Offset Escrow amounts, which had not previously been included in the FY 2017 refund amount.

Director Haug also noted the General Revenue Fund borrowed $200 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2018.