State Revenue for Missouri Plummets

(Jefferson City) Missouri State Budget Director Dan Haug announced today that net general revenue collections for April 2020 decreased 54.3 percent compared to last April, from $1.59 billion last year to $725.2 million this year.

Net general revenue collections for 2020 fiscal year-to-date decreased 6.1 percent compared to last April, from $8.02 billion last year to $7.53 billion this year.

Individual income tax collections decreased 9.6 percent for the year, sales and use tax collection increased 2.3 percent for the year, corporate income and corporate franchise tax collections decreased 11.4 percent for the year, all other collections decreased 2-percent for the year and refunds for the state of Missouri decreased 13.5 percent for the year.