(The Center Square) – Kansas collected $681 million in tax receipts in July 2023.
The state collected $13.9 million (2.1%) more than it had projected, according to a press release from Governor Laura Kelly’s office. That said, the state collected $94.7 million (16.2%) more than it did in July 2022.
“We are starting this fiscal year on strong financial footing, thanks to my administration’s laser-sharp focus on attracting businesses and growing the state’s economy,” Governor Kelly said in a press release. “The numbers are clear: we must put money back in the hands of working Kansans through responsible tax cuts.”
Much of the money came from income tax collections; it collected $313.7 million, $3.7 million (1.2%) more than it initially estimated; that is $13.2 million (4.4%) more than it got in July 2022. Plus, Kansas got $44.7 million in corporate income tax collections; it was $4.7 million (11.9%) more than the state projected and 22.2% more than it got in July 2022.
“It is important to note that wage withholding, the largest component of the $313.7 million in individual income tax receipts, is 13.4% more than in July 2022. Kansas wage income continues to be strong as the state moves into Fiscal Year 2024,” Secretary of Revenue Mark Burghart said in the release.
Plus, the state collected $315.3 million in combined retail sales and compensating use tax. It was $12.3 million (4.1%) more than expected and 38.8% more than it got in July 2022.
The state’s July 2023 revenue numbers are available here.
