MO Project: Contextual Branding

State Releases May 2020 General Revenue Report

June 11, 2020

State Budget Director Dan Haug announced today that net general revenue collections for May 2020 decreased 22.5 percent compared to those for May 2019, from $688.2 million last year to $533.5 million this year.

Net general revenue collections for 2020 fiscal year-to-date decreased 7.4 percent compared to May 2019, from $8.70 billion last year to $8.06 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Decreased 9.1 percent for the year, from $7.00 billion last year to $6.36 billion this year.
  • Decreased 3.1 percent for the month.

Sales and use tax collections

  • Increased 1.0 percent for the year, from $2.06 billion last year to $2.08 billion this year.
  • Decreased 10.3 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 7.5 percent for the year, from $446.6 million last year to $412.9 million this year.
  • Increased 137.4 percent for the month.

All other collections

  • Decreased 4.1 percent for the year, from $433.4 million last year to $415.5 million this year.
  • Decreased 35.1 percent for the month.

Refunds

  • ​Decreased 2.1 percent for the year, from $1.23 billion last year to $1.20 billion this year.
  • Increased 79.3 percent for the month.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.