Kansas collects $918.8 million in June taxes

TOPEKA, Kan. (WIBW) – The State of Kansas collected about $918.8 million in taxes in June, which places the state on observe to succeed in a complete tax income of $9.8 billion by the tip of the fiscal 12 months.

Kansas Governor Laura Kelly says in a launch that the Sunflower State’s complete tax receipts for the month of June collected about $918.8 million. She stated the collections are $20.2 million – 2.2% – over the estimate and $64.4 million – 7.5% – greater than the June 2021 totals.

“In June, we introduced in extra money than was estimated – re-enforcing that our state’s financial system is continuous its ahead momentum,” Gov. Kelly stated. “Our efforts to be essentially the most fiscally accountable and pro-business Administration in Kansas historical past has helped our state turn into a hub for financial progress.”

Kelly famous that particular person revenue tax collections have been about $40.3 million – 9.9% – decrease than the estimate. Nevertheless, she stated for a single-time vital refund paid in June, these receipts would even have exceeded the estimate by 6.7% for the month.

The Governor stated June’s company revenue tax receipts, that are largely made up of estimated tax funds, proceed the upward development. She additionally stated company revenue tax collections have been $148.1 million – 48.1% – over the estimate and 33.2% greater than what was collected in June 2021.

“The upper-than-expected company estimated funds ship a robust sign that companies anticipate larger earnings in 2022,” stated Secretary of Income Mark Burghart.

Kelly stated the mixed retail gross sales and compensating use tax receipts collected $303.6 million which was about 10.6% greater than the mixed receipts for such taxes in June 2021. She stated inflation might have positively impacted this space, nevertheless, total constant shopper spending has additionally continued in the course of the months of Could and June.

The Governor indicated that when June’s constructive numbers are taken into consideration, the state will finish Fiscal 12 months 2022 with complete tax revenues of $9.8 billion which exceeds the revised estimate of $438.1 million.

To see the whole June 2022 Income Report, click on HERE.

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