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For Immediate Release                                                                                              Contact:  Dan Haug

February 8, 2023                                                                                                                      573-751-2345

State Releases January 2023 General Revenue Report

JEFFERSON CITY, Mo. - State Budget Director Dan Haug announced today that net general revenue collections for January 2023 increased 55.1 percent compared to those for January 2022, from $882.1 million last year to $1.37 billion this year.

Net general revenue collections for 2023 fiscal year-to-date increased 15.6 percent compared to January 2022, from $6.58 billion last year to $7.61 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 14.5 percent for the year, from $4.67 billion last year to $5.34 billion this year.
  • Increased 21.0 percent for the month.

Sales and use tax collections

  • Increased 10.1 percent for the year, from $1.60 billion last year to $1.77 billion this year.
  • Increased 5,068.6 percent for the month. 

Corporate income and corporate franchise tax collections

  • Increased 21.5 percent for the year, from $452.2 million last year to $549.2 million this year.
  • Increased 32.6 percent for the month.

All other collections

  • Increased 38.1 percent for the year, from $279.9 million last year to $386.4 million this year.
  • Increased 109.3 percent for the month.

Refunds

  • Increased 3.7 percent for the year, from $426.4 million last year to $442.4 million this year.
  • Decreased 13.2 percent for the month.

The growth rate shown for total Sales and Use Tax is artificially high as the collections amount last January (2022) was artificially low as it reflected a correction made for the December 2021 distribution error.

The growth rate for individual income tax is artificially high due to an individual fraud scheme.  The fraudulent payments will be reversed during February 2023.

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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