State Revenues Are Up From Last Year

Missouri’s net general revenue collections for February grew 18 percent compared to those for February 2023, according to a report today from State Budget Director Dan Haug. Revenues climbed from $703.5 million last year to $830.3 million this year. Net general revenue collections for 2024 fiscal year-to-date increased 1.3 percent compared to February 2023, from $8.31 billion to $8.42 billion. Individual income tax collections dropped by 9.4 percent from a year ago, however a new category of pass through entity collections, which were previously counted as individual income tax collections, make up much of the difference. Sales and use tax collections are up 11.3 percent from a year ago, and corporate income and corporate franchise tax collections increased 2.2 percent.