Thursday, March 6, 2008
For Immediate Release

Contact: Larry Schepker
573-751-1851

State Releases February 2008 General Revenue Report

JEFFERSON CITY - Commissioner of Administration Larry Schepker announced today that 2008 fiscal year-to-date net general revenue collections compared to fiscal year 2007 have increased by 5.2 percent, from $4.66 billion to $4.90 billion.

Net general revenue collections for February increased by 8.7 percent compared to those for February 2007, from $403.7 million to $438.9 million.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Increased 0.2 percent for the year, from $1.357 billion last year to $1.359 billion this year.
• Increased 3.8 percent for the month.

Individual income tax collections

• Increased 8.6 percent for the year, from $3.31 billion last year to $3.60 billion this year.
• Increased 8.2 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 1.7 percent for the year, from $310.9 million last year to $316.2 million this year.
• Increased 60.4 percent for the month.

All other collections

• Increased 5.0 percent for the year, from $272.6 million last year to $286.2 million this year.
• Increased 19.7 percent for the month.

Refunds

• Increased 10.5 percent for the year, from $594.3 million last year to $657.0 million this year.
• Increased 8.3 percent for the month.

Schepker noted that collections thus far are ahead of the pace needed to meet the revised consensus revenue estimate. While February's numbers are strong, uncertainties in the national economy may be a factor in revenue collections the remainder of this fiscal year.

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