News Columns & Blogs

Revenue shortfall even worse

It's troubling that state tax collections for December were about $23 million below projections, given that those projections were made only one month before — and had been reduced sharply from the previous projections. But what is downright scary is that the shortfall would have been much worse if not for the settlement of some past corporate tax disputes. The Kansas Department of Revenue collected about $40 million in late or contested corporate income taxes and sales taxes. Only about half of those collections were included in the December projections, according to state budget director Duane Goossen, meaning that the projections were really off by more than $40 million.

  Comments