Today, Governor Laura Kelly announced Kansas’ July tax receipts. In total, Kansas’ State General Fund saw its total tax receipts for July perform $60.0 million, or 11.0%, better than the estimate with $602.6 million collected. Comparing this July’s total tax receipts to the previous July’s would not be a meaningful comparison as last July included receipts from tax returns from the extended filing period.
“Our July tax collection numbers are encouraging, but we must maintain fiscally-responsible policies to ensure our continued growth,” said Governor Laura Kelly.
Individual income tax receipts were $20.8 million, or 8.9%, more than the estimate with $255.8 million collected. Corporate income tax collections were $34.2 million. That is $19.2 million, or 8.9%, more than the estimate.
Retail sales tax collections were up $11.6 million, or 5.2%, for the month with $233.6 million collected. That is $15.0 million, or 6.9%, more than the previous July. Compensating use tax collections were $4.3 million, or 7.8%, more than the estimate with $59.3 million collected. That is 17.8%, or $9.0 million, more than last July.
“Consumer spending on goods and services has not slowed down,” Revenue Secretary Mark Burghart said. “Combined sales and use tax receipts at $292.9 million were 8.9% above July 2020 and 20.3% above pre-pandemic July 2019. Our economists are watching closely to determine if the spread of the COVID-19 Delta variant will impact what has been a strong economic recovery in Kansas.”
To view the entire report, click here. https://governor.kansas.gov/wp-content/uploads/2021/08/01_July_Revenue_FY2022_08-02-2021_Final.pdf
Source: https://governor.kansas.gov/governor-laura-kelly-announces-july-tax-receipts/
