Revenues tracked well for the state of Kansas in the latest Department of Labor report.
Total tax collections went above $670 million, beating estimates by 3.3 percent. That total was largely driven by individual income tax collections, which were 10 percent above estimates and nearly 13 percent from July 2024. Other categories were lower than estimates and last year’s numbers. Corporate collections were 47 percent below estimates and 46 percent below a year ago. Combined retail and compensating use collections missed estimates by less than one percent and last year’s mark by over 4 percent.
Governor Laura Kelly says the overall numbers reflect the strength of the Kansas economy at this time, but she is also concerned about the state’s long-term financial health with numerous projections showing expenditures outpacing revenues before the end of the decade.
