Kansas is on target with revised estimates; down 51.4% compared to last April
TOPEKA - As predicted, the State of Kansas saw a decrease in total tax collections when compared to April of Fiscal Year 2019. These reductions are largely due to announced tax date extensions, which gave relief to Kansans while moving collections into the Fiscal Year 2021.
On April 20, the Consensus Revenue Estimating Group, comprised of the Department of Revenue, Division of Budget, Kansas Legislative Research Department, and economists from the University of Kansas, Kansas State University, and Wichita State University, met to review the fall estimates and make revisions. These revisions take into consideration the changes in tax deadlines, consumer purchasing behaviors, and employer withholdings.
The state's total tax collections for April were $578.1 million. Compared to April last fiscal year that is down $610.7 million or 51.4%. However, the state is in line with the revised estimates as those collections are 0.10% or $360,655 more than the estimate.
Individual income tax collections were $282.5 million; $1.2 million or 0.4% more than the new estimate. Corporate income tax collections were $37.8 million; 2.3% or $888,372 below the estimate.
Retail sales tax collections were $184.1 million; $2.3 million or 1.2% below the estimate. Compensating use tax collections were 2.4% higher than estimated with $41.5 million collected.