July Total Tax Collections at 660.3 Million; 1.0% Below the Estimate

TOPEKA – The State of Kansas ended July 2024 with total tax collections at $660.3 million. That is $6.4 million, or 1.0%, below the estimate. Total tax collections are down 3.0% from July 2023.

Individual income tax collections were $308.5 million, which is $8.5 million, or 2.8% above the estimate and down 1.7% from July 2023. Corporate income tax collections were $34.3 million, which is $15.7 million, or 31.4%, below the estimate and down 23.3% from July 2023.

Combined retail sales and compensating use tax receipts were $305.1 million, which is $4.1 million, or 1.4% above the estimate, and down $10.1 million, or 3.2%, from July 2023. Retail sales tax receipts are 3.7% less than the July 2023 collections as Kansans continue to save money on groceries from the reduced state food sales tax rate.

Click here to view the July 2024 revenue numbers.

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