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Revenue Released For First Month Of Missouri’s New Fiscal Year

The numbers are a little skewed because of the tax filing deadline extension for Missouri last year, but the Office of Administration has announced the new general revenue collections for the first month of the new fiscal year.

Net general revenue collections decreased 39.3 percent compared to July 2020, from $1.16 billion last year to $701.3 million this year.

Individual income tax collections were down 47.5 percent for the year, from $915.6 million last year to $480.5 million this year.

Sales and use tax collections might be the best indicator for comparison purposes. That figure was higher when compared from this July to last July, from $181.8 million last year to $212.5 million this year.

The figures included in the monthly general revenue report represent a snapshot in time.

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