Wednesday, February 6, 2008
For Immediate Release

Contact: Michael Keathley
573-751-1851

State Releases January 2008 General Revenue Report

JEFFERSON CITY - Commissioner of Administration Mike Keathley announced today that 2008 fiscal year-to-date net general revenue collections compared to fiscal year 2007 have increased by 4.9 percent, from $4.25 billion to $4.46 billion.

Net general revenue collections for January increased by 8.7 percent compared to those for January 2007, from $677.5 million to $736.6 million.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Decreased 0.4 percent for the year, from $1.184 billion last year to $1.180 billion this year.
• Decreased 4.7 percent for the month.

Individual income tax collections

• Increased 8.7 percent for the year, from $2.86 billion last year to $3.11 billion this year.
• Increased 11.8 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 0.8 percent for the year, from $298.4 million last year to $296.1 million this year.
• Increased 3.8 percent for the month.

All other collections

• Increased 3.0 percent for the year, from $240.8 million last year to $248.1 million this year.
• Increased 39.3 percent for the month.

Refunds

• Increased 12.3 percent for the year, from $331.4 million last year to $372.2 million this year.
• Increased 4.7 percent for the month.

Keathley noted that collections thus far are ahead of the pace needed to meet the revised consensus revenue estimate. While January gross collections were strong, uncertainties in the national economy may be a factor in revenue collections the remainder of this fiscal year.

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