State’s April tax receipts came in $81.2 million above estimates
TOPEKA – April tax receipts came in $81.2 million above estimates at $1.2 billion; $256.4 million more than the same month last year.
Individual income tax receipts are $69.8 million more than the estimate at $808.1 million. Corporate income taxes receipts are $8.5 million above estimates at $104.8 million; $6.0 million more than April 2018.
“Increases in the receipts can be attributed to one-time tax payments on capital gains income and economic growth coupled with changes in federal and state income tax law,” Secretary Mark Burghart said. “While we are seeing our state begin to stabilize following years of turmoil, it’s important that we continue to be cautious.”
Retail sales tax receipts show $200.5 million in collections, a decrease of approximately $2.4 million, or 1.2% below April 2018.