Kansas March revenues top estimate by $40 million
03/30/2012 5:00 AM
03/30/2012 4:57 PM
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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