Missouri State Revenue for May Decreases by Nearly 25%

(Farmington) Missouri State Budget Director Dan Haug says net general revenue collections for May 2020 decreased 22.5 percent compared to those for May 2019, from $688.2 million last year to $533.5 million this year.

Net general revenue collections for 2020 fiscal year-to-date decreased 7.4 percent compared to May 2019, from $8.7 billion last year to $8.06 billion this year.

Individual income tax collections decreased 9.1 percent for the year, from $7 billion last year to $6.36 billion this year.

Corporate income and corporate franchise tax collections decreased 7.5 percent for the year, from $446.6 million last year to $412.9 million this year.

All other collections decreased 4.1 percent for the year, from $433.4 million last year to $415.5 million this year.