TOPEKA (KSNT) - Tax collections in February were $33.1 million short, or 6% below the estimate, according to the Kansas Department of Revenue (KDOR).
On Monday, the KDOR revealed the Feb. 2024 revenue numbers. In total, the state collected $521.4 million, coming in short of the $554.5 estimate. Total tax collections are down 5.2% since Feb. 2023.
“Falling short of estimates for the fourth consecutive month reiterates that Kansas must pass a tax cut plan that is sustainable and fiscally responsible,” Governor Laura Kelly said. “That’s why I have proposed a bipartisan tax cut package that would benefit all Kansans without jeopardizing our long-term economic growth or ability to continue fully funding essential services.”
Individual income tax collections were $46.4 million short of the $220 million estimate, down 17.9% from Feb. 2023. Corporate income tax collections beat expectations with $5.1 million more than the $16 million estimate, up 37.5% from Feb. 2023.
Combined retail sales and compensating use taxes also came in $10.4 million short at $252.6 million; down $15.4 million, or 5.7%, from February 2023. The full revenue numbers can be found by clicking here.
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