State releases October 2012 General Revenue Report

JEFFERSON CITY– State Budget Director Linda Luebbering has announced that 2013 fiscal year-to-date net general revenue collections increased 7.5 percent compared to 2012, from $2.25 billion last year to $2.42 billion this year.

Net general revenue collections for October 2012 increased by 11.0 percent compared to those for October 2011, from $470.1 million to $522.0 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections:

• Increased 3.2 percent for the year, from $1.63 billion last year to $1.68 billion this year.

• Increased 1.7 percent for the month.

Sales and use tax collections:

• Increased 2.7 percent for the year, from $601.3 million last year to $617.5 million this year.

• Increased 9.1 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 1.8 percent for the year, from $127.7 million last year to $129.9 million this year.

• Increased 3.1 percent for the month.

All other collections

• Increased 34.3 percent for the year, from $123.3 million last year to $165.7 million this year.

• Increased 59.2 percent for the month.

Refunds

• Decreased 25.1 percent for the year, from $224.4 million last year to $168.1 million this year.

• Decreased 26.0 percent for the month.