Friday, January 6, 2006
For Immediate Release |
Contact: Michael Keathley ,
573-751-1851 |
State Releases December 2005 General Revenue Report
Jefferson City - Commissioner of Administration Mike Keathley announced today that 2006 fiscal year-to-date net general revenue collections compared to 2005 fiscal year-to-date collections have increased by 6.0 percent, from $3.23 billion last year to $3.43 billion this year.
The Commissioner also announced that December 2005 net general revenue collections compared to December 2004 collections increased by 10.7 percent, from $584.2 million last December to $646.9 million this December.
GROSS COLLECTIONS BY TAX TYPE
Sales and use tax collections
- Increased 1.4 percent for the year, from $969.2 million last year to $983.3 million this year.
- Decreased 3.1 percent for the month.
Individual income tax collections
- Increased 8.5 percent for the year, from $2.0 billion last year to $2.2 billion this year.
- Increased 12.2 percent for the month.
Corporate income and corporate franchise tax collections
- Increased 43.3 percent for the year, from $206 million last year to $295.2 million this year.
- Increased 31.2 percent for the month.
All other collections
- Decreased 0.8 percent for the year, from $220.5 million last year to $218.8 million this year.
- Increased 24.9 percent for the month.
Refunds
- Increased 40.5 percent for the year-to-date, from $196.7 million last year to $276.4 million this year.
- Increased 17.8 percent for the month.
Keathley said the Governor continues to be encouraged by the strength of income tax collections, which are indicative of good economic growth for the state. Consumer spending forecasts remain optimistic, but high energy prices could still put pressure on sales and other tax collections. Employment growth is forecast to remain steady over the next several months, despite the challenging energy prices many industries face.
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