TOPEKA, Kan. (AP) Kansas officials are waiting to see whether state tax collections this month met expectations.
The report to be released Tuesday afternoon by the Department of Revenue will come on the last day of the fiscal year and after legislators increased sales and cigarette taxes to avert a budget deficit during the next fiscal year.
Tax collections for the 11 months ending in May were more than $5.1 billion but about $7 million less than projected. The shortfall was about 1.5 percent.
State officials are watching tax collections closely because even with the tax increases taking effect in July, the state won’t have much of a financial cushion in cash reserves.
The state’s budget problems arose after lawmakers slashed income taxes in 2012 and 2013 as an economic stimulus.
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