Today Governor Laura Kelly announced that total tax collections for November were $626.8 million. That is 3.1%, or $18.9 million, more than the estimate. Those collections are $70.1 million, or 12.6%, more than last November.
“While our state revenue numbers continue to be encouraging, maintaining fiscal responsibility is paramount moving forward,” Governor Kelly said. “That’s how we will sustain strategic investments in critical state services – and how we will ‘Axe the Food Sales Tax’ long-term, providing much-needed relief to Kansas families.”
Revenue numbers come after the Consensus Revenue Estimating Group made up of state financial advisors, researchers, and university economists, by statute, met to evaluate the estimates for the remainder of the fiscal year.
Individual income tax collections were below the estimate for the month by 1.6%, or $4.6 million, with $288.9 million collected. These collections were below estimate for the month due to remittance due dates. Even with that, these collections saw a growth of $13.5 million, or 4.9%, above last November. Corporate income tax collections were $5.4 million, or 64.1%, more than the estimate with $13.7 million collected. That is a $8.5 million, or 165.5%, more than last November.
Sales and use tax collections were 13.8%, or $34.5 million, more than last November. These collections were $285.4 million for the month, which is $8.5 million or 3.1% more than the estimate. To break that down, retail sales collections were $223.6 million. That is $6.6 million, or 3.0%, more than the estimate for the month and $21.9 million more than last November. Compensating use tax collections were $61.8 million for the month, which is $1.9 million, or 3.2%, more than the estimate. That is a growth of $12.6 million, or 25.7%, over the same month last year.
View the tax receipts here. https://governor.kansas.gov/wp-content/uploads/2021/12/05_November_Revenue_FY2022_12-01-2021_Final.pdf
Source: https://governor.kansas.gov/governor-laura-kelly-announces-november-total-tax-collections-18-9-million-over-estimate/
