Kansas collects $910.1 million in taxes during month of May

TOPEKA, Kan. (WIBW) – The Sunflower State collected about $910.1 million in taxes within the month of Could.

Kansas Governor Laura Kelly says on Wednesday, June 1, the entire tax collections for Could have been about $910.1 million, which is about $239.5 million – or 35.7% – greater than the month’s earlier estimate.

“Our tax assortment receipts proceed to indicate the state’s fiscal well being and the work my Administration has performed to make sure Kansas is on stable monetary footing,” Gov. Kelly stated. “We’ll proceed our work to be fiscally accountable whereas offering tax cuts and absolutely funding colleges, regulation enforcement, and roads.”

Kelly famous that particular person revenue tax collections totaled $518.4 million, which is 198.4 million – or 62% – above the estimate. In the meantime, company revenue tax collections totaled $51.4 million, which is $33.4 million – or 185.6% – greater than estimated.

The Governor stated retail gross sales tax collections have been $240.8 million, which is $13.8 million – or 6.1% – greater than the estimate and 5.7% greater than Could 2021 gross sales tax receipts. She additionally stated compensating use tax collections have been $64.8 million, which is $2.2 million beneath the estimate, however 19.1% greater than what was collected Could 2021.

“Could receipts replicate sturdy performances by the person and company revenue tax sorts. Revenue tax receipts weren’t influenced by extensions of tax submitting deadlines as had been the case in Could 2020 and 2021,” Income Secretary Mark Burghart stated. “Retail gross sales and compensating use tax receipts additionally proceed to replicate the soundness they’ve proven for the previous 10 months.”

To learn the complete spreadsheet for Could tax collections in Kansas, click on HERE.

Copyright 2022 WIBW. All rights reserved.