For Immediate Release Contact: Dan Haug
September 5, 2024 573-751-2345
State Releases August 2024 General Revenue Report
Jefferson City, Mo. - State Budget Director Dan Haug announced today that net general revenue collections for August 2024 declined 9.3 percent compared to those for August 2023, from $1.04 billion last year to $942.7 million this year.
Net general revenue collections for 2025 fiscal year-to-date declined 8.3 percent compared to August 2023, from $1.94 billion last year to $1.78 billion this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 8.5 percent for the year, from $1.24 billion last year to $1.13 billion this year.
- Decreased 5.8 percent for the month.
Pass Through Entity tax collections
- Increased from $0 to $36.2 million this year.
Sales and use tax collections
- Decreased 5.8 percent for the year, from $632.9 million last year to $596.1 million this year.
- Decreased 0.3 percent for the month.
Corporate income and corporate franchise tax collections
- Decreased 8.1 percent for the year, from $61.5 million last year to $56.5 million this year.
- Decreased 71.7 percent for the month.
All other collections
- Increased 0.4 percent for the year, from $143.2 million last year to $143.8 million this year.
- Decreased 13.6 percent for the month.
Refunds
- Increased 37.6 percent for the year, from $136.42 million last year to $187.7 million this year.
- Increased 122.6 percent for the month.
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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