State Releases May 2021 General Revenue Report

State Releases May 2021 General Revenue Report

JEFFERSON CITY, MO - Budget Director Dan Haug announced today that Net general revenue collections for May 2021 increased 128.3 percent compared to those for May 2020, from $533.5 million last year to $1.22 billion this year.

Net general revenue collections for 2021 fiscal year-to-date increased 24.3 percent compared to May 2020, from $8.06 billion last year to $10.02 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

Increased 27.4 percent for the year, from $6.36 billion last year to $8.10 billion this year.

Increased 92.5 percent for the month.

Sales and use tax collections

Increased 6.5 percent for the year from $2.08 billion last year to $2.22 billion this year.

Increased 20.6 percent for the month.

Corporate income and corporate franchise tax collections

Increased 63.7 percent for the year, from $412.9 million last year to $676.0 million this year.

Increased 147.0 percent for the month.

All other collections

Increased 18.0 percent for the year, from $415.5 million last year to $490.2 million this year.

Increased 113.3 percent for the month.

Refunds

Increased 21.6 percent for the year, from $1.20 billion last year to $1.46 billion this year.

Decreased 24.5 percent for the month.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.