Friday, April 4, 2008
For Immediate Release

Contact: Larry Schepker
573-751-1851

State Releases March 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 4.8 percent, from $5.18 billion to $5.43 billion.

Net general revenue collections for March increased by 0.8 percent compared to those for March 2007, from $524.5 million to $528.5 million.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Decreased 1.5 percent for the year, from $1.53 billion last year to $1.50 billion this year.
• Decreased 15.0 percent for the month.

Individual income tax collections

• Increased 8.4 percent for the year, from $3.74 billion last year to $4.06 billion this year.
• Increased 6.9 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 3.6 percent for the year, from $374.8 million last year to $388.2 million this year.
• Increased 12.7 percent for the month.

All other collections

• Increased 6.3 percent for the year, from $339.6 million last year to $361.1 million this year.
• Increased 11.8 percent for the month.

Refunds

• Increased 9.8 percent for the year, from $804.5 million last year to $883.5 million this year.
• Increased 7.8 percent for the month.

Schepker noted that net collections thus far remain ahead of the pace needed to meet the revised consensus revenue estimate, but uncertainties in the national economy may be a factor in revenue collections over the next several months.

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