Wednesday, March 4, 2007
For Immediate Release

Contact: Michael Keathley ,
573-751-1851

State Releases March 2007 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 4.8 percent, from $4.95 billion last year to $5.18 billion this year.

The Commissioner also announced that March 2007 net general revenue collections compared to March 2006 collections increased by 4.2 percent, from $503.3 million last March to $524.5 million this March.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Increased 2.6 percent for the year, from $1.49 billion last year to $1.53 billion this year.
• Increased 3.9 percent for the month.

Individual income tax collections

• Increased 5.6 percent for the year, from $3.55 billion last year to $3.74 billion this year.
• Increased 4.9 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 3.5 percent for the year, from $388.5 million last year to $374.8 million this year.
• Increased 13.6 percent for the month.

All other collections

• Decreased 1.8 percent for the year, from $345.9 million last year to $339.6 million this year.
• Decreased 13.0 percent for the month.

Refunds

• Decreased 2.4 percent for the year, from $824.0 million last year to $804.5 million this year.
• Increased 1.5 percent for the month.

Keathley noted that the Missouri economy continues to enjoy moderate growth in spite of the struggles in the vehicle manufacturing sector. Continued revenue growth is expected the rest of this fiscal year, however weakness in the national housing market and volatility in equity markets may impact Missouri’s employment and revenues in the months ahead.

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