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Wednesday, July 23, 2014

Kansas March revenues top estimate by $40 million


TOPEKA, Kan. (AP) – Kansas revenue collections surged in March on strong gains in corporate and personal income taxes, beating expectations for the month by about $40 million or roughly 10 percent.

The Kansas Department of Revenue said Friday the state collected nearly $432 million in March. The figure pushed total revenue for the first nine months of the fiscal year to $72 million above expectations.

The agency says corporate tax collections in March were $21.5 million more than expected. Individual income tax payments topped official projections by $14.6 million.

Sales tax collections came in at nearly $2.3 million more than expected.

Revenue Secretary Nick Jordan says the collections indicate the Kansas economy is improving.

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