State Releases May 2016 General Revenue Report

June 2, 2016

JEFFERSON CITY - Acting State Budget Director Dan Haug announced today that 2016 fiscal year-to-date net general revenue collections increased 3.4 percent compared to 2015, from $7.87 billion last year to $8.14 billion this year.

Net general revenue collections for May 2016 increased by 12.0 percent compared to those for May 2015, from $649.6 million to $727.7 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 4.3 percent for the year, from $6.29 billion last year to $6.56 billion this year.
Increased 12.7 percent for the month.

Sales and use tax collections
Increased 5.3 percent for the year, from $1.83 billion last year to $1.92 billion this year.
Increased 14.2 percent for the month.

Corporate income and corporate franchise tax collections
Decreased 15.0 percent for the year, from $465.4 million last year to $395.5 million this year.
Decreased 38.6 percent for the month.

All other collections
Increased 5.8 percent for the year, from $379.5 million last year to $401.4 million this year.
Increased 52.3 percent for the month.

Refunds
Increased 4.6 percent for the year, from $1.10 billion last year to $1.15 billion this year.
Increased 21.6 percent for the month.