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Kansas collected $26 million more in tax revenue than expected in fiscal 2023

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(The Center Square) – Tax collections were better than Kansas expected in fiscal year 2023.

The state collected nearly $26 million more than projected during the fiscal year. It ended the fiscal year strong, collecting $989 million in June 2023; it was $17.3 million, or 1.8%, more than the state expected.

“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.”

While income tax collections were $4 million less than expected ($379 million) last month, corporate income tax collections were up by $26.2 million ($226.2 million); it was 13.1% more than the state expected.

Additionally, retail sales and compensating use tax receipts totaled $303.5 million last month, $1.5 million more than the state expected.

Kansas collected about $10.2 billion in taxes in fiscal year 2023. That is $25.9 million more than the state expected.

The state’s June 2023 revenue numbers are available here.

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