Missouri Sales and use taxes are up but general revenue down over 60 per cent in April

(Jefferson City)–The State of Missouri is getting more money from sales tax and use tax collections this year, which increased 2.3 percent over last year. But the rest of the State’s April General Revenue Report illustrates how hard businesses and workers have been knocked for a loop by the current coronavirus outbreak. Individual income tax collections were off 63.9 percent for the month, compared to last year…and corporate income and corporate franchise tax collections were down by 66.3 percent in April. The Office of Administration is reporting net general revenue collections were off 54.3 percent in April, compared to 2019. So far fiscal year-to-date, net general revenue is 6.1 percent lower than over the comparable period last year.
State officials are hoping that collections will improve with the gradual reopening of businesses in the state.