JEFFERSON CITY, Mo. – State Budget Director Dan Haug announced today (Jan. 4, 2024) that net general revenue collections for December 2023 grew 0.6 percent compared to those for December 2022, from $1.08 billion last year to $1.09 billion this year.
Net general revenue collections for 2024 fiscal year-to-date decreased 1.7 percent compared to December 2022, from $6.24 billion last year to $6.13 billion this year.
Pass-Through Entity tax collections were previously reported within Individual Income, which makes growth in Individual Income tax collections appear artificially low. Learn more about the Pass-Through Entity tax through this link.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
• Decreased 22.7 percent for the year, from $4.34 billion last year to $3.36 billion this year.
• Decreased 50.5 percent for the month.
Pass-Through Entity tax collections
• Increased from $0 to $648.9 million this year.
Sales and use tax collections
• Increased 10.5 percent for the year, from $1.50 billion last year to $1.65 billion this year.
• Decreased 1.4 percent for the month.
Corporate income tax collections
• Increased 2.4 percent for the year, from $483.9 million last year to $495.4 million this year.
• Decreased 2.6 percent for the month.
All other collections
• Increased 28.4 percent for the year, from $338.2 million last year to $434.3 million this year.
• Increased 110.7 percent for the month.
Refunds
• Increased 8.6 percent for the year, from $419.9 million last year to $455.8 million this year.
• Increased 12.4 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.
