Monday, Feb. 5, 2007
For Immediate Release

Contact: Michael Keathley,
573-751-1851

State Releases January 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 $4.06 billion last year to $4.25 billion this year.

The Commissioner also announced that January 2007 net general revenue collections compared to January 2006 collections increased by 7.4 percent, from $630.5 million last January to $677.5 million this January.

GROSS COLLECTIONS BY TAX TYPESales and use tax collections

• Increased 4.3 percent for the year, from $1.14 billion last year to $1.18 billion this year.
• Increased 24.0 percent for the month.

Individual income tax collections

• Increased 5.4 percent for the year, from $2.71 billion last year to $2.86 billion this year.
• Increased 5.1 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 6.6 percent for the year, from $319.6 million last year to $298.4 million this year.
• Decreased 5.5 percent for the month.

All other collections

• Decreased 1.3 percent for the year, from $244.0 million last year to $240.8 million this year.
• Decreased 14.2 percent for the month.

Refunds

• Decreased 7.0 percent for the year, from $356.5 million last year to $331.4 million this year.
• Increased 13.4 percent for the month.

Keathley noted that the Missouri economy continues to grow in spite of persistent weakness in the vehicle manufacturing sector. Declines in energy prices have eased the pressure on consumer spending, boosting sales tax collections. Although a continued slowdown is expected, the outlook for the economy in Missouri remains positive.

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