Jan 02, 2020 10:00 PM

Kansas continues seeing growth in total tax receipts

Posted Jan 02, 2020 10:00 PM

Topeka — The Kansas Department of Revenue is seeing consistent growth in total tax receipts as it goes into the second half of Fiscal Year 2020.

The state saw $756.6 million in total tax collections for December; 5.4% or $38.6 million above the estimate, according to a media release from the Kansas Department of Revenue. These collections are 10.1% or $69.7 million more than December FY19.

Individual income tax collections are $316.1 million; 3.3% or $10.1 million more than estimated. The largest growth compared to the estimate came from corporate income taxes at $90.7 million; 31.5% or $21.7 million more than estimated.

Corporate income tax collections are 30.3% or $21.1 million more than the same month last fiscal year.

Retail sales tax collections were $200.9 million; 0.5% or $944,000 more than estimated. Compensating use tax collections were 2.1% or $794,100 more than estimated at $38.8 million; $821,400 more than the same month in fiscal year 2019.