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*For Immediate Release                                                                                              Contact:  Dan Haug*

*February 7, 2024                                                                                                                  573-751-2345*

*State Releases January 2024 General Revenue Report*

*JEFFERSON CITY, Mo.* - State Budget Director Dan Haug announced today that net general revenue collections for January 2024 grew 6.3 percent compared to those for January 2023, from $1.37 billion last year to $1.45 billion this year.

Net general revenue collections for 2024 fiscal year-to-date decreased 0.2 percent compared to January 2023, from $7.61 billion last year to $7.59 billion this year.

GROSS COLLECTIONS BY TAX TYPE

_Individual income tax collections_

* Decreased 17.6 percent for the year, from $5.34 billion last year to $4.40 billion this year.
* Increased 4.0 percent for the month.

_Pass Through Entity tax collections_

* Increased from $0 to $688.5 million this year.

_Sales and use tax collections_

* Increased 11.2 percent for the year, from $1.77 billion last year to $1.97 billion this year.
* Increased 14.8 percent for the month. 

_Corporate income and corporate franchise tax collections_

* Increased 0.6 percent for the year, from $549.2 million last year to $552.5 million this year.
* Decreased 12.5 percent for the month.

_All other collections_

* Increased 29.6 percent for the year, from $386.4 million last year to $501.0 million this year.
* Increased 38.3 percent for the month.

_Refunds*_

* Increased 18.2 percent for the year, from $442.4 million last year to $522.9 million this year.
* Increased 198.2 percent for the month.

"*Reported refunds are artificially high due to a processing error.  This will be corrected on the February report."

"Pass-Through Entity tax collections were previously reported within Individual Income, which makes growth in Individual Income tax collections appear artificially low."

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

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* 2024-01 (January FY24).xlsx [ [link removed] ]

  Missouri Department of Administrative Services [ [link removed] ]
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