Today, Governor Laura Kelly announced Kansas’ September total tax receipts were $876.5 million. Those collections are $162.2 million, or 22.7% more than the estimate and a growth of 20.2%, or $147.6 million, from last September.
“Our tax collection numbers continue to show promising growth,” said Governor Laura Kelly. “In the months ahead, we must maintain fiscally-responsible policies to strengthen our growing economy.”
Individual income tax collections were up $51.8 million, or 14.6%, for the month with $406.8 million collected. That is $48.2 million, or 13.4%, more than the same month of 2020. September corporate income tax receipts, which are comprised primarily of estimated tax payments, have continued to trend upward. Corporate income tax collections were $85.3 million, or 142.1%, more than the estimate with $145.3 million collected. That is a growth of $55.6 million, or 62.0%, from the same month of last year. September 2021 corporate income tax collections were also 46.8% more than September 2019 actual receipts.
“After three quarters, these higher-than-expected estimated payments are a strong indication that corporations anticipate improved profit margins in 2021,” Secretary of Revenue Mark Burghart said.
Retail sales tax collections were $225.2 million which is $15.2 million, or 7.2%, more than the estimate. Those collections are 15.1%, or $29.6 million, more than last September. Compensating use tax collections were $60.7 million which is $6.7 million, or 12.5%, more than the estimate. That is also $15.1 million, or 33.2%, more than September 2020.
To view the entire report, click here. https://governor.kansas.gov/wp-content/uploads/2021/10/03_September_Revenue_FY2022_10-01-2021_Final.pdf
Source: https://governor.kansas.gov/governor-laura-kelly-announces-kansas-september-tax-receipts/
