Kansas Tax Collections Almost $7 Million Below Estimates in January
Kansas tax collections came in nearly $7 million below estimates last month, despite some bright spots in the January report. KPR’s Stephen Koranda reports.
Kansas Individual income tax collections came in $8 million higher than expected, but corporate income tax collections were well below the estimate and sales tax receipts also came up short. Revenue Secretary Nick Jordan says weak oil, aviation and ag industries are hurting tax collections.
In relation to the full state budget, a $7 million shortfall is not very much. However, the state is already projecting a deficit for the coming fiscal year, which could approach $200 million. The January numbers dig the hole a little bit deeper.