State Releases May 2017 General Revenue Report

JEFFERSON CITY – Acting State Budget Director Dan Haug announced today that 2017 fiscal year-to-date net general revenue collections increased 2.6 percent compared to 2016, from $8.14 billion last year to $8.35 billion this year.

Net general revenue collections for May 2017 decreased by 2.0 percent compared to those for May 2016, from $727.7 million to $713.4 million.

 GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 2.1 percent for the year, from $6.56 billion last year to $6.70 billion this year.
  • Decreased 3.6 percent for the month.

Sales and use tax collections

  • Increased 1.8 percent for the year, from $1.92 billion last year to $1.96 billion this year.

Increased 1.1 percent for the month.

Corporate income and corporate franchise tax collections

  • Decreased 11.1 percent for the year, from $395.5 million last year to $351.5 million this year.
  • Increased 90.4 percent for the month.

All other collections

  • Increased 13.3 percent for the year, from $401.4 million last year to $454.9 million this year.
  • Increased 6.6 percent for the month.

Refunds

  • Decreased 2.7 percent for the year, from $1.15 billion last year to $1.12 billion this year.
  • Increased 7.9 percent for the month.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.

About the Author

Melissa Gilmour
Melissa is the Digital Content Manager and Staff Writer at The Licking News.

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