Kansas Department of Revenue Press Release
TOPEKA – Three months into fiscal year 2014 Monday, Kansas revenue receipts continue to track closely with estimates, which are used to develop the state’s budget.
While corporate income tax receipts posted a shortfall for the first time in more than a year, missing the mark by 17 percent, or $13.6 million, sales and use tax receipts both beat estimates by $2.6 million and $2.3 million respectively. Individual income tax receipts were less than 1 percent off estimates.
"We believe that all of these numbers show that Kansas businesses are investing and citizens are spending more money," said Revenue Secretary Nick Jordan. "We will have a better understanding of what is happening with corporate income tax receipts in October when tax extension balances are due.”
Fiscal year to date revenue receipts were also short because of the transfer of $9.6 million to the Jobs Creation fund last month.
Monthly revenue receipts for September were slightly off projections falling short by 2 percent.