TOPEKA, Kan. (WIBW/AP) - State revenue officials say new numbers are a sign the state's economy is growing.
April revenue receipts show individual income tax receipts up nearly six percent from the prior fiscal year to date.
Comparing April 2013 to April 2012, the state collected $25 million more in individual income tax, saw a 44 percent jump in corporate income tax receipts and has overall revenue up $41.7 million.
For the fiscal year to date, state tax collections are about $4.4 million short of projections.
Revenue officials say the numbers are encouraging because they show economic growth is offsetting income tax rate reductions.
“We’ve predicted that a fiscal environment where Kansans get to keep and invest more of their paycheck would bring economic growth to the state,” said Revenue Secretary Nick Jordan. “The first quarter of 2013 met those expectations.”
Officials also say the Revenue Department has processed almost 40,000 more tax return payments this year than in 2012. They say there is about a week's worth of checks remaining to be processed and that revenue will be included in May's revenue report.
Tax balance due amounts are averaging 40 percent more than those filed in 2012.