State Releases February 2006 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 6.1 percent, from $4.19 billion last year to $4.44 billion this year.

The Commissioner also announced that February 2006 net general revenue collections compared to February 2005 collections increased by 9.7 percent, from $351.5 million last February to $385.7 million this February.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

• Increased 2.3 percent for the year, from $1.30 billion last year to $1.33 billion this year.
• Increased 5.6 percent for the month.

Individual income tax collections

• Increased 8.4 percent for the year, from $2.89 billion last year to $3.13 billion this year.
• Increased 8.2 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 38.6 percent for the year, from $239.8 million last year to $332.3 million this year.
• Decreased 6.4 percent for the month.

All other collections

• Decreased 2.7 percent for the year, from $276.4 million last year to $268.9 million this year.
• Decreased 2.0 percent for the month.

Refunds

• Increased 20.1 percent for the year-to-date, from $513.7 million last year to $616.9 million this year.
• Increased 2.5 percent for the month.

            Gov. Matt Blunt continues to be encouraged by general revenue collections.

            "Continued growth in our state's general revenue collections reflect responsible budgeting decisions and legislative reforms that have paved the way for good economic growth in our state," Blunt said. "We have increased jobs, reinvigorated the entrepreneurial climate and invested in Missouri's future."

            Keathley said growth in the national economy is expected over the next several months, however dynamic energy prices and the potential for inflation remain a concern.
 
        Keathley further noted that over $210 million of individual refunds were returned to Missouri taxpayers this month, believed to be the largest single month of individual refunds on record.  This was a combined result of the hard work and customer service focus of Department of Revenue employees, as well as the greater efficiencies that result from the increase in electronic filing.

Go to News Releases Index