JEFFERSON CITY, MO - State Budget Director Linda Luebbering announced today that 2012 fiscal year-to-date net general revenue collections increased 2.5 percent compared to 2011, from $4.94 billion last year to $5.06 billion this year.
Net general revenue collections for March 2012 increased by 3.0 percent compared to those for March 2011, from $497.3 million to $512.4 million.
Director Luebbering also noted the General Revenue Fund borrowed $100 million from the Budget Reserve Fund for cash flow purposes, bringing the total borrowed for the year to $325 million. The funds will be repaid before the Constitutional deadline of May 15th.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Increased 3.1 percent for the year, from $3.88 billion last year to $4.00 billion this year.
- Increased 0.5 percent for the month.
Sales and use tax collections
- Increased 3.9 percent for the year from $1.35 billion last year to $1.40 billion this year.
- Decreased 0.4 percent for the month.
Corporate income and corporate franchise tax collections
- Decreased 8.5 percent for the year, from $331.1 million last year to $302.9 million this year.
- Increased 8.5 percent for the month.
All other collections
- Decreased 20.2 percent for the year, from $337.5 million last year to $269.3 million this year.
- Decreased 12.4 percent for the month.
Refunds
- Decreased 4.7 percent for the year, from $956.7 million last year to $912.0 million this year.
- Decreased 6.7 percent for the month.
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