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



Commissioner's Office

Monday, March 6, 2007
For Immediate Release

Contact: Michael Keathley,
573-751-1851

State Releases February 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 $4.44 billion last year to $4.66 billion this year.

The Commissioner also announced that February 2007 net general revenue collections compared to February 2006 collections increased by 4.7 percent, from $385.7 million last February to $403.7 million this February.

GROSS COLLECTIONS BY TAX TYPE

Sales and use tax collections

  • Increased 2.4 percent for the year, from $1.33 billion last year to $1.36 billion this year
  • Decreased 8.7 percent for the month.

Individual income tax collections

  • Increased 5.7 percent for the year, from $3.13 billion last year to $3.31 billion this year.
  • Increased 7.2 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 6.4 percent for the year, from $332.3 million last year to $310.9 million this year.
  • Decreased 1.0 percent for the month.

All other collections

  • Increased 1.4 percent for the year, from $268.9 million last year to $272.6 million this year.
  • Increased 27.8 percent for the month.

Refunds

  • Decreased 3.7 percent for the year, from $616.9 million last year to $594.3 million this year.
  • Increased 1.0 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.  Although a continued slowdown is expected in the national economy, and equity markets have displayed increased volatility, the state will continue to enjoy moderate economic growth.

Keathley also noted that February marked the biggest month of individual refunds ever, when Blunt’s administration returned more than $218 million to Missouri taxpayers.

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