TOPEKA, Kan. (AP) — Kansas state officials say fiscal year-end tax receipts came in $318 million above projections.
The Kansas Department of Revenue on Monday released a revenue report showing that fiscal year-end tax receipts were $1.2 billion above the previous fiscal year. The overall increase was not surprising since state lawmakers reversed past income tax cuts to deal with persistent budget woes.
But Department of Revenue Secretary Sam Williams says that tax receipts were above expectations for every month during the fiscal year that ended June 30, adding that "there's optimism that this trend will continue."
“The increase in sales tax collections indicate more retail spending precipitated by wage gains from the federal tax cuts passed in to law six months ago,” he continued.
The agency says receipts were especially strong in June, when receipts were $144 million more than projected.
Williams says the increase indicates a rise in retail spending. He believes federal tax cuts passed late last year helped spur the economic growth.