State Releases March 2022 General Revenue Report

JEFFERSON CITY, MO - State Budget Director Dan Haug announced that net general revenue collections for March 2022 increased 42.6 percent compared to those for Match 2021, from $650.2 million last year to $926.9 million this year.

Net general revenue collections for 2022 fiscal year-to-date increased 5.6 percent compared to March 2021, from $7.85 billion last year to $8.29 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

Increased 1.2 percent for the year, from $6.15 billion last year to $6.22 billion this year.

Increased 16.6 percent for the month.

Sales and use tax collections

Increased 15.1 percent for the year, from $1.78 billion last year to $2.05 billion this year.

Increased 27.3 percent for the month.

Corporate income and corporate franchise tax collections

Increased 11.0 percent for the year, from $461.1 million last year to $511.9 million this year.

Increased 28.4 percent for the month.

All other collections

Decreased 0.7 percent for the year, from $398.6 million last year to $395.9 million this year.

Decreased 2.5 percent for the month.

Refunds

Decreased 5.1 percent for the year, from $943.0 million last year to $895.3 million this year.

Decreased 26.9 percent for the month.

Due to the COVID pandemic, the 2020 income tax filing deadlines in April and June were moved to July 15, 2020. Therefore, the comparison of FY21 to FY22 will be negatively impacted throughout FY22.

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