State Budget Director Linda Luebbering announced today that 2011 fiscal year-to-date net general revenue collections increased 6.3 percent compared to fiscal year 2010, from $3.88 billion last year to $4.13 billion this year. This places revenue collections for the year slightly ahead of forecast.
Because of the improvement in revenue collections, Governor Jay Nixon has provided $10 million in additional funding to local schools to assist in covering transportation costs.
“This uptick in state revenue allows us to provide additional funds to help schools statewide pay for K-12 transportation,” Governor Nixon said.
Net general revenue collections for January 2011 increased by 15.9 percent compared to those for January 2010, from $561.2 million to $650.4 million.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Increased 3.0 percent for the year, from $2.88 billion last year to $2.96 billion this year.
- Increased 1.6 percent for the month.
Sales and use tax collections
- Increased 1.4 percent for the year from $1.04 billion last year to $1.05 billion this year.
- Increased 9.0 percent for the month.
Corporate income and corporate franchise tax collections
- Increased 7.8 percent for the year, from $245.3 million last year to $264.4 million this year.
- Decreased 21.1 percent for the month.
All other collections
- Increased 17.3 percent for the year, from $235.4 million last year to $276.2 million this year.
- Increased 35.5 percent for the month.
Refunds
- Decreased 16.0 percent for the year, from $508.7 million last year to $427.4 million this year.
- Decreased 46.2 percent for the month.
No comments:
Post a Comment