JEFFERSON CITY – State Budget Director Dan Haug announced Wednesday that net general revenue collections for January 2022 declined 13.4 percent compared to those for January 2021, from $1.02 billion last year to $882.1 million this year.
Net general revenue collections for 2022 fiscal year-to-date increased 1.9 percent compared to January 2021, from $6.46 billion last year to $6.58 billion this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 3.0 percent for the year, from $4.81 billion last year to $4.67 billion this year.
- Increased 4.8 percent for the month.
Sales and use tax collections
- Increased 15.6 percent for the year, from $1.39 billion last year to $1.60 billion this year.
- Decreased 97.4 percent for the month.
Corporate income tax collections
- Increased 8.9 percent for the year, from $415.1 million last year to $452.2 million this year.
- Increased 1.8 percent for the month.
All other collections
- Decreased 1.5 percent for the year, from $284.2 million last year to $279.9 million this year.
- Decreased 12.1 percent for the month.
Refunds
- Decreased 3.3 percent for the year, from $441.2 million last year to $426.4 million this year.
- Decreased 50.1 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 amount shown for total Sales and Use Tax is artificially low as it reflects a correction made for the December distribution error.
The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors