The state of Kansas is entering the 2023 fiscal year with a strong financial base.
Kansas Governor Laura Kelly says the tax receipts from last month totaled almost $919 million. The total is over 7.5 percent above the June 2021 total and over 2 percent over state estimates.
Individual income tax collections were almost 10 percent below estimates, but state officials noted a “one-time significant refund paid in June” was responsible. Had that refund not gone out, the state says individual receipts would have topped expectations by nearly 7 percent.
Corporate income tax collections were over 48 percent above estimates and 33 percent above June 2021 totals. Retail sales and compensating use tax receipts combined to be almost 11 percent above numbers for June 2021.
All told, the state ended fiscal 2022 with almost $10 billion in total tax revenues. The total beat estimates by nearly $440 million.
