Missouri Office of Administration

For Immediate Release                                                                                              Contact:  Dan Haug

November 6, 2020                                                                                                           573-751-2345

 

State Releases October 2020 General Revenue Report

JEFFERSON CITY, MO - State Budget Director Dan Haug announced today that net general revenue collections for 2021 fiscal year-to-date increased 25.3 percent compared to October 2019, from $2.97 billion last year to $3.72 billion this year.

Net general revenue collections for October 2020 decreased 4.2 percent compared to those for October 2019, from $659.6 million last year to $631.9 million this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 33.7 percent for the year, from $2.12 billion last year to $2.84 billion this year.
  • Decreased 6.5 percent for the month.

Sales and use tax collections

  • Increased 2.1 percent for the year, from $757.4 million last year to $773.6 million this year.
  • Increased 0.1 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 64.7 percent for the year, from $168.4 million last year to $277.3 million this year.
  • Increased 43.2 percent for the month.

All other collections

  • Decreased 0.8 percent for the year, from $133.7 million last year to $132.7 million this year.
  • Increased 35.1 percent for the month.

Refunds

  • Increased 41.1 percent for the year, from $212.2 million last year to $299.2 million this year.
  • Increased 14.2 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.

 

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