March tax collections for Kansas $11M less than expected

TOPEKA, Kan. (KSNT) — Kansas is reporting that total tax collections were $11.6 million below expectations for the month of March. 

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The state Department of Revenue released its monthly report on tax collections Monday also reporting that Kansas collected $57.5 million more than expected for the fiscal year to date.  Kansas has collected $424.8 million in total revenue for the month of March and $4.2 billion for the current fiscal year.

Revenue Secretary Sam Williams says although withholding receipts grew $7.6 million compared to the previous year, that was offset by $12.3 million more in refunds paid out this month compared to March 2016, pulling individuals income tax receipts below estimates.

“The March revenue receipts continue the trends we have seen over the last few months – withholding and state sales tax collections continue to improve, reflecting an encouraging job and consumer environment for Kansans.”

From November through February, the state collected $68 million or in tax revenues than anticipated. The current fiscal year’s revenue surplus is 1.9 percent.

The state had seen tax collections that had exceeded expectations the previous four months. Even with the shortfall in March, the state’s tax collections are still nearly $57 million ahead of expectations for the current fiscal year that begin in July 2016.

Legislators had seen the previous greater-than-expected tax collections as a positive sign as they consider raising taxes to fix the state’s serious budget problems. Kansas is facing budget shortfalls totaling more than $1 billion through June 2019.

 

 

The Associated Press contributed to this report 

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