State Releases December 2006 General Revenue Report

Jefferson City - Commissioner of Administration Mike Keathley announced today that 2007 fiscal year-to-date net general revenue collections compared to 2006 fiscal year-to-date net collections increased by 4.4 percent, from $3.43 billion last year to $3.58 billion this year.  

The Commissioner also announced that December 2006 net general revenue collections compared to December 2005 collections increased by 1.0 percent, from $646.9 million last December to $653.6 million this December.        

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Increased 1.2 percent for the year, from $983.3 million last year to $994.9 million this year.
• Decreased 0.8 percent for the month.

Individual income tax collections

• Increased 5.5 percent for the year, from $2.21 billion last year to $2.33 billion this year.
• Increased 3.0 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 6.7 percent for the year, from $295.2 million last year to $275.3 million this year.
• Increased 13.3 percent for the month.

All other collections

• Increased 0.2 percent for the year, from $218.8 million last year to $219.2 million this year.
• Decreased 27.2 percent for the month.
  

• Decreased 12.9 percent for the year, from $276.4 million last year to $240.6 million this year.
• Decreased 0.7 percent for the month.

            Keathley noted that for the first half of the year, gross receipts have grown an average 3.1 percent, just below the average of the past ten fiscal years.  However, overall economic expansion continues, as evidenced by continued strength in corporate income.  In addition, one component of individual income tax, withholding tax, has rebounded this month and indicates continued growth in employment. The revenue outlook for FY 2007 remains positive, although uncertainties remain in the housing and manufacturing sectors.

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