February Total Tax Collections Below Estimate

By Trish Svoboda

The State of Kansas ends February 2024 at $33.1 million, or 6.0% below the estimate, with total tax collections at $521.4 million. The total tax collections are down 5.2% compared to February of last year.

“Falling short of estimates for the fourth consecutive month reiterates that Kansas must pass a tax cut plan that is sustainable and fiscally responsible,” Governor Laura Kelly said. “That’s why I have proposed a bipartisan tax cut package that would benefit all Kansans without jeopardizing our long-term economic growth or ability to continue fully funding essential services.”

Individual income tax collections were $46.4 million, or 21.1% below the estimate, with total collections of $173.6 million, down 17.9% from February of 2023. The total corporate income tax collections were $21.1 million, which is $5.1 million, or 31.6% above the estimate. Compared to February of last year, that is up 37.5%.

The combined total of retail sales and compensating use tax receipts was $252.6 million. That is $10.4 million, or 4% below the estimate, and down $15.4 million, or 5.7% from February of last year. Click here to view the February 2024 revenue numbers.

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