Kansas tax collections surpass expectations for January

(KSNT File photo)

TOPEKA, Kan. (KSNT) – The Kansas Department of Revenue announced Wednesday morning that Kansas total tax revenue receipts for the month of January were $544 million, $24 million more than was projected. The amount is $8.9 million more than January 2016 receipts.

Tax collections in December were nearly $531 million, exceeding revenue estimates by about $6 million, or about 1 percent.

This is the third month in a row that revenue receipts have met projections.

Kansas Senate Democratic Leader Anthony Hensley says the January revenues are only an indication that the Consensus Revenue Estimating Group has lowered estimates enough that they can finally be exceeded.

“We still face a $320 million budget shortfall for the current fiscal year, and even more next year. We still have an unbalanced budget, inherently unfair tax policies, fewer jobs now than a year ago, and working Kansans paying more while wealthy Kansans pay less.”

The Kansas Department of Revenue says January 2017 individual income tax receipts were $245.6 million. January 2017 sales tax receipts were $216.6 million, which is $8.5 million or 4.1 percent more than was received in January 2016, which is in line with national trends.

For the 2017 fiscal year 2017 total revenue receipts are $3.5 billion. Total tax revenue receipts for the fiscal year to date were $3.4 billion.

Hensley says this revenue report does not change the reality that the Kansas Legislature must provide the leadership to find a long term, fiscally responsible solution.

“Because Governor Brownback has failed to do that.”

 

“In January, Kansas saw a holiday sale bump in line with growth seen at the national level. Coupled with individual income tax receipts beating expectations for the month, I’m looking forward to seeing continued improvement in the economic health of Kansans,” said acting Secretary of Revenue Sam Williams.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s