Governor Laura Kelly announced that August 2024 tax collections totaled $665.6 million, exceeding the estimate by $22.8 million, or 3.5%. This marks a 4.0% increase compared to August 2023.

Individual income tax collections totaled $329.4 million, surpassing the estimate by $19.4 million (6.3%) and increasing 10.1% from August 2023. Corporate income tax collections reached $20.2 million, falling $9.8 million (32.8%) below the estimate and down 19.7% from August 2023.

Combined retail sales and compensating use tax receipts were $294.6 million, $12.6 million (4.5%) above the estimate, and up $2.2 million (0.7%) from August 2023.

“While we are seeing collections higher than the estimate, we likely won’t see the impact of the income tax cuts from Senate Bill 1 on monthly collections until the beginning of next year,” Governor Laura Kelly said. “Because of that timing, we must continue to be fiscally responsible for our long-term outlook.”