Kansas' June tax collections nearly $33M more than expected

MGN Online money
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TOPEKA, Kan. (AP) — Kansas is reporting that it collected nearly $33 million more in taxes than anticipated in June and ended its 2019 budget year with solid revenue growth.

The state Department of Revenue said Tuesday that Kansas collected nearly $782 million in taxes last month. The state's fiscal forecast had predicted a little more than $749 million in taxes, making the surplus about 4.4%.

Tax collections exceed expectations 24 of the past 25 months.

The state collected nearly $7.5 billion in taxes during its 2019 budget year, or $191 million more than expected. That was a surplus of 2.6%.

The budget year's tax collections grew nearly 6.3% from the 2018 budget year, or by $440 million.

It's likely that Kansas ended its 2019 budget year with $1 billion in cash reserves.