TOPEKA – Governor Laura Kelly announced Tuesday that the August 2024 total tax collections were $665.6 million. That is $22.8 million, or 3.5% more than the estimate. Total tax collections are up 4.0% from August 2023, according to a media release from the Kansas Department of Revenue.
Click here to view the August 2024 revenue numbers.
“While we are seeing collections higher than the estimate, we likely won’t see the impact of the income tax cuts from Senate Bill 1 on monthly collections until the beginning of next year,” Governor Laura Kelly said. “Because of that timing, we must continue to be fiscally responsible for our long-term outlook.”
Individual income tax collections were $329.4 million, which is $19.4 million, or 6.3% more than the estimate and up 10.1% from August 2023. Corporate income tax collections were $20.2 million, which is $9.8 million, or 32.8% less than the estimate and down 19.7% from August 2023.
Combined retail sales and compensating use tax receipts were $294.6 million, which is $12.6 million, or 4.5% more than the estimate and up $2.2 million, or 0.7% from August 2023.