Kansas closes August with total tax collections below the estimate

TOPEKA, Kan. (WIBW) - The State of Kansas closed August with total tax collections at $640.1 million, which is below the estimate.

Kansas Department of Revenue officials said that is $24.5 million, or 3.7%, below the estimate. Total tax collections are down 1.9% from August 2022.

Kansas Department of Revenue officials indicated the individual income tax collections were $299.3 million. That is $25.7 million, or 7.9%, below the estimate, and down 2.6% from August 2022. Corporate income tax collections were $25.1 million, or 25.5%, higher than the estimate and up 62.3% from August 2022.

According to officials with the Kansas Department of Revenue, combined retail sales and compensating use tax receipts were $292.4 million, which is $5.6 million, or 1.9%, below the estimate and down $10.5 million, or 3.5%, from August 2022.

Kansas Department of Revenue officials noted to view the August 2023 revenue numbers, click HERE.