As fiscal 2022 is now underway for Kansas, the state announced it did very well for fiscal 2021 ending last Wednesday.
Kansas collected nearly $9 billion in total taxes for the fiscal year ending last week. For the year, Kansas collected almost $760 million more than estimates — a growth of over 9 percent.
For June, collections were almost $160 million above estimates, or nearly 23 percent. Monthly income tax collections were 15 percent above projections and almost 6 percent ahead of fiscal 2020. Corporate income tax collections beat estimates by over 125 percent, while retail sales taxes were up over 12 percent and compensating use taxes were up over 25 percent from expectations.
Kansas Governor Laura Kelly says the monthly report is evidence the state’s efforts to rebuild the economic foundation and strengthen the economy are paying off. She also says her administration will continue to prioritize “pro-growth policies” to support both businesses and families.
