Office of Administration
 Matt Blunt, Governor - Larry Schepker, Commissioner
 
 
 



Commissioner's Office
June 7, 2006
For Immediate Release
Contact:  Michael N. Keathley
573-751-1851

State Releases May 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 9.3 percent, from $6.04 billion last year to $6.60 billion this year.

The Commissioner also announced that May 2006 net general revenue collections compared to May 2005 collections increased by 20.4 percent, from $516.5 million last May to $621.7 million this May.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

  • Increased 2.2 percent for the year, from $1.79 billion last year to $1.83 billion this year.
  • Increased 12.0 percent for the month.

Individual income tax collections

  • Increased 10.4 percent for the year, from $4.43 billion last year to $4.90 billion this year.
  • Increased 13.6 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 30.2 percent for the year, from $395.5 million last year to $515.0 million this year.
  • Increased 48.9 percent for the month.

All other collections

  • Increased 0.3 percent for the year, from $427.2 million last year to $428.6 million this year.
  • Increased 7.6 percent for the month.

Refunds

  • Increased 6.2 percent for the year-to-date, from $1.01 billion last year to $1.07 billion this year.
  • Decreased 18.6 percent for the month.

Keathley said the Governor is pleased by the continued growth in general revenue collections, which reflect the positive impact of the governor's economic development policies, responsible budgeting decisions and legislative reforms that have paved the way for good economic growth in our state. Missouri's reinvigorated entrepreneurial climate has resulted in increased jobs, higher wages, and new state revenue.

Keathley pointed out that changes implemented under Blunt's leadership have moved the state away from wasteful spending towards responsible budgeting and long term planning and have paved the way for the growth evident in this month's report.

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