TOPEKA - The State of Kansas closed March with total tax collections at $523.4 million; 1.6% or $8.6 million below the estimate. That is 0.3% or $1.4 million more than March of Fiscal Year 2019, according to a media release from the Kansas Department of Revenue.
Individual income tax collections were $247.3 million; $4.3 million more than the estimate and 7.1% more than last March. Corporate income tax collections were $18.4 million; $8.6 million below estimate and 24.5% below March FY 2019.
Retail sales tax collections were $179.4 million; $3.4 million more than the estimate. That's an increase of $2.9 million compared to the same month last fiscal year. Compensating use tax collections were $34.7 million; 8.5% or $2.7 million more than the estimate and 8.7% more than last March.
“As consumer spending patterns change, retail sales tax and compensating use tax collections could experience a major decline in the months to come.”
"While seeing a slight increase in total tax collection revenues compared to last fiscal year, we must continue to be cautious as we evaluate the financial impact of COVID-19," Governor Laura Kelly said.
She issued a statewide stay-at-home order in that is effect until April 19.
“Later this month, we should see a clearer picture moving forward as the Consensus Revenue Estimating group evaluates fall projections.”