OA50

*For Immediate Release                                                                                              Contact:  Dan Haug*

*June 8, 2023                                                                                                                         573-751-2345*

*State Releases May 2023 General Revenue Report*

*JEFFERSON CITY, Mo.* - State Budget Director Dan Haug announced today that net general revenue collections for May 2023 declined (10.5) percent compared to those for May 2022, from $1.78 billion last year to $1.59 billion this year.

Net general revenue collections for 2023 fiscal year-to-date increased 5.3 percent compared to May 2022, from $11.41 billion last year to $12.01 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

* Increased 3.1 percent for the year, from $8.95 billion last year to $9.22 billion this year.
* Decreased 19.2 percent for the month.

Sales and use tax collections

* Increased 6.4 percent for the year, from $2.52 billion last year to $2.68 billion this year.
* Increased 2.8 percent for the month. 

Corporate income and corporate franchise tax collections

* Increased 23.0 percent for the year, from $721.7 million last year to $887.8 million this year.
* Increased 72.6 percent for the month.

All other collections

* Increased 41.2 percent for the year, from $511.7 million last year to $722.8 million this year.
* Increased 72.3 percent for the month.

Refunds

* Increased 16.3 percent for the year, from $1.29 billion last year to $1.50 billion this year.
* Decreased 22.7 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."

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* May 2023 (FY 23) GR detail.xlsx [ [link removed] ]

  Missouri Department of Administrative Services [ [link removed] ]
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