Kansas June revenue numbers surge; modest growth over past year

Kansas tax revenue grew a modest 1 percent over the past year.

The state collected about $5.8 billion in sales, income, property and other taxes in fiscal year 2017, which ended June 30. That was 1.02 percent more than it collected last year.

In June alone, Kansas collected about $609 million – 13.46 percent above estimates.

The monthly revenue report concludes what was a rocky fiscal year. A revenue forecast in November sharply cut expectations before the latest forecast, in April, adjusted figures upward.

“The state now has $72.22 million more than expected because June revenues came in so strong thanks to corporate, individual, and sales tax collections.” Revenue Secretary Sam Williams said in a statement. “With unemployment at a 16-year low, my hope is that such a robust performance in these major tax sources will continue into next fiscal year.”

Revenue collections are expected to increase with the implementation of higher income tax rates. The money will be withheld from paychecks beginning in July. Some kinds of business income that were tax-exempt are now once again being taxed as well.

Lawmakers passed the tax increases in June in an effort to balance a budget shortfall. The increases – which were forced into law over Gov. Sam Brownback’s veto – are expected to generate about $1.2 billion over two years.

This story was originally published July 3, 2017 at 4:58 PM with the headline "Kansas June revenue numbers surge; modest growth over past year."