JEFFERSON CITY - State Budget Director Linda Luebbering announced today that July 2014 net general revenue collections increased 6.5 percent compared to July 2013, from $481.4 million last year to $512.9 million this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
Increased 9.2 percent for the year, from $341.9 million last year to $373.4 million this year.
Sales and use tax collections
Decreased 0.2 percent for the year from $151.3 million last year to $150.9 million this year.
Corporate income and corporate franchise tax collections
Decreased 7.2 percent for the year, from $18.6 million last year to $17.2 million this year.
All other collections
Increased 32.6 percent for the year, from $15.4 million last year to $20.4 million this year.
Refunds
Increased 7.3 percent for the year, from $45.6 million last year to $49.0 million this year.
Director Luebbering 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, 2015.