For Immediate Release Contact: Dan Haug
August 7, 2024 573-751-2345
State Releases July 2024 General Revenue Report
Jefferson City, Mo. - State Budget Director Dan Haug announced today that 2025 fiscal year-to-date net general revenue collections decreased 7.3 percent compared to July 2023, from $898.7 million last year to $833.5 million this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 11.9 percent for the year, from $550.8 million last year to $485.3 million this year.
Pass Through Entity tax collections
- Increased from $0 to $8.6 million this year.
Sales and use tax collections
- Decreased 10.5 percent for the year, from $341.2 million last year to $305.4 million this year.
Corporate income and corporate franchise tax collections
- Increased 20.4 percent for the year, from $42.5 million last year to $51.2 million this year.
All other collections
- Increased 23.7 percent for the year, from $53.7 million last year to $66.4 million this year.
Refunds
- Decreased 6.9 percent for the year, from $89.6 million last year to $83.4 million this year.
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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