JEFFERSON CITY – State Budget Director Dan Haug announced Tuesday that 2022 fiscal year-to-date net general revenue collections decreased 39.3 percent compared to July 2020, from $1.16 billion last year to $701.3 million this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 47.5 percent for the year, from $915.6 million last year to $480.5 million this year.
Sales and use tax collections
- Increased 16.9 percent for the year, from $181.8 million last year to $212.5 million this year.
Corporate income and corporate franchise tax collections
- Decreased 67.6 percent for the year, from $141.8 million last year to $46.0 million this year.
All other collections
- Increased 6.2 percent for the year, from $18.4 million last year to $19.5 million this year.
- Decreased 44.0 percent for the year, from $102.2 million last year to $57.2 million this year.
Due to the COVID pandemic, the 2020 income tax filing deadlines in April and June were moved to July 15, 2020. Therefore, the comparison of FY21 to FY22 will be negatively impacted throughout FY22.
The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.