State revenues reversed their recent trend and were above both April 2023 numbers and forecasts from the Consensus Revenue Estimating Group.
Last month the state collected $1.42 billion in taxes, up $101 million, or nearly 8 percent, over estimates and up nearly 10 percent from a year ago.
Individual income tax collections were over $740 million, beating estimates by 14 percent and April 2023 numbers by nearly 25 percent. Corporate income tax collections, over $338 million, beat estimates by almost 2 percent but were short of April 2023 numbers by 4.5 percent. Combined retail sales and compensating use tax receipts were over $295 million, above projections by 1.1 percent but short of April 2023 numbers by over 4 percent.
Republican Speaker of the House Dan Hawkins used the numbers to urge Kansas Governor Laura Kelly to sign the Republican-led tax bill that recently passed overwhelmingly in the Legislature despite increasing concerns of possible revenue issues starting as soon as 2027. The bill would provide $2.3 billion in tax relief to residents over five years.
