Topeka, Kan. — Monday, Governor Laura Kelly announced Kansas July tax receipts. In total, Kansas saw its total tax receipts for July exceed the estimate by $127.6 million with $586.2 million collected.
“Due to my administration’s record-setting economic development successes over the last three and a half years, July marks the 24th month in a row that Kansas tax receipts have surpassed expectations,” said Governor Kelly. “That represents more money our state can use to continue fully funding our schools, improving our roads, investing in law enforcement, and expanding health care.”
Individual income tax receipts were $300.5 million, or 15.6%, over the $260.0 million estimate. Corporate income tax collections were $36.6 million, or 66.4%, over the estimate. Higher-than-expected corporate tax receipts reflect continued optimism that corporate profits will remain stable in the new fiscal year.
A comparison of July’s receipts to those of July of 2021 is not meaningful because a statutory change during the 2022 Legislative Session had the effect of deferring the collection of certain sales and use tax receipts from July to August beginning this fiscal year.
Retail sales tax collections were $174.2 million, or 39.4%, over the estimate. Compensating use tax collections were $21.0 million, or 65.7%, over the estimate with $53.0 million collected. Actual receipts for the two tax types were less than July 2021 due to a change in the timing for remittances by large retailers resulting from the enactment of 2022 H.B. 2136.
The complete July 2022 Revenue Report can be found here.