Missouri has collected more general revenue in September than it did in the same month last year, but overall collections so far this fiscal year appear to be lower than this time last year.
State Budget Director Dan Haug announced the state's general revenue collections for September increased 16.3 percent - $944.5 million last year to $1.10 billion this year - when compared to general revenue collections for September of last year.
Despite the increase last month, overall general revenue collections for Missouri so far this fiscal year have decreased 10.6 percent since this time last year - from $3.09 billion last year to $2.76 billion this year.
The state's general revenue comparison to last year's data is skewed as a result of changes to tax filing deadlines amid the COVID-19 pandemic.
By moving the April and June tax filing deadlines to July last year, the state collected revenue in a new fiscal year which has bolstered the 2021 fiscal year figures.
As a result, individual income, corporate income and corporate franchise tax collections appear to be down as compared to last year.
Individual income tax collections have decreased 18.9 percent - from $2.35 billion to $1.90 billion - so far this year. A comparison of September only, however, shows an increase of more than 17 percent in collections.
Corporate income and franchise tax collections have decreased 22.5 percent so far this year, dropping from $234.9 million last year to $182 million this year. The strictly September comparison shows an increase of 55.5 percent.
Also as a result of the changing tax deadlines, the state is showing a decrease of 7.5 percent in the number refunds processed so far this year, dipping from $203.9 million last year to $188.7 million so far this year. Refunds have increased 82.3 percent for the month, however.
Missouri's sales and use tax collections and all other forms of collections have increased for the year.
Sales and use tax collections increased by 22.9 percent for the year and 20.7 percent for the month of September. The state reported $599.7 million in sales and use tax collections at this time last year and $736.9 million so far this year.
All other collections increased almost 15 percent for the year - from $112 million this time last year to $128.5 million so far this year - but decreased over 11 percent for the month.
Haug said last month the state is still on track to collect the necessary revenue to fully fund the current fiscal year budget.