State Releases May 2012 General Revenue Report

June 4, 2012

State Budget Director Linda Luebbering announced today that 2012 fiscal year-to-date net general revenue collections increased 3.4 percent compared to 2011, from $6.39 billion last year to $6.61 billion this year. 

Net general revenue collections for May 2012 increased by 6.3 percent compared to those for May 2011, from $581.4 million to $618.1 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 3.4 percent for the year, from $5.15 billion last year to $5.33 billion this year.
  • Increased 10.0 percent for the month.

Sales and use tax collections

  • Increased 4.7 percent for the year from $1.64 billion last year to $1.71 billion this year.
  • Increased 12.7 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 9.9 percent for the year, from $459.5 million last year to $414.1 million this year.
  • Decreased 49.4 percent for the month.

All other collections

  • Decreased 18.8 percent for the year, from $427.6 million last year to $347.4 million this year.
  • Decreased 10.2 percent for the month.

Refunds

  • Decreased 7.1 percent for the year, from $1.28 billion last year to $1.19 billion this year.
  • Increased 1.7 percent for the month.