Kansas Tax Receipts Exceed Estimate

Governor Kelly Announces June Total Tax Receipts Exceed Estimate by Over $17M, Closes Fiscal Year Nearly $26M Ahead of Projections

– Governor Laura Kelly announced today that total tax collections for June 2023 were $989.0 million. That is $17.3 million, or 1.8%, more than the estimate and $70.2 million, or 7.6%, more than June 2022.

“Time and again, we have seen our monthly revenues exceed estimates because of my administration’s success in attracting businesses, expanding our workforce, and growing our state’s economy,” Governor Laura Kelly said. “This past legislative session, I fought for responsible tax cuts on groceries, property, and Social Security to put this money back in the hands of working Kansans. Come January, I am committed to partnering with legislators to get Kansans relief.”

Individual income tax collections were $379.0 million. That is $4.0 million, or 1.1%, less than the estimate but $14.3 million, or 3.9%, more than June 2022. Corporate income tax collections were $226.2 million. That’s $26.2 million, or 13.1%, more than the estimate and up 52.7% from June 2022.

Combined retail sales and compensating use tax receipts were $303.5 million. That is $1.5 million, or 0.5%, more than the estimate but less than June 2022 by only 0.1%.

Kansas will end FY 2023 with total tax collections of nearly $10.2 billion, which exceeds the FY 2023 revised estimate by $25.9 million.

Click here to view the June 2023 revenue numbers.


Leave a Reply

Your email address will not be published. Required fields are marked *