Kansas revenue report for May just below expectations

TOPEKA, Kan. (KSNT) — Kansas tax collections in May were $1.86 million below expectations as Kansas legislators work on proposals to raise new revenue to fix the state budget.

The Department of Revenue reported Thursday last month’s tax collections came to $441.25 million, which was $28.26 million less than May 2016.

A positive report would help legislators a little as they seek to close projected budget shortfalls totaling $887 million through June 2019 while providing additional funds for public schools. The Kansas Supreme Court ruled in March that education funding is inadequate.

Department of Revenue Secretary Sam Williams said over the first 11 months of the current fiscal year, sales, corporate income and individual income tax withholding are performing better than the 11 months of fiscal year 2016.

“That is an indicator that Kansas consumers are earning and spending more in our state,” said Williams

The state collected about $1.8 million more in taxes than anticipated in April for a surplus of 0.3 percent. Expectations are set by a fiscal forecast issued by state officials and university economists earlier in April.

Individual income tax for the month totaled $157.82 million, compared with $207.14 million in May 2016. The Department of Revenue said this $49.32 million difference is mainly because the Department has improved its pace for opening individual income tax returns. As a result, there was not a backlog of unopened returns pushed into May 2017.

The Department of Revenue still believes the state is on track to meet total tax estimates for the current fiscal year.

Kansas has collected $5.21 billion from all tax sources so far in the current fiscal year that ends June 30.

 

The Associated Press contributed for this report 

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