Kansas Collected $24M More in Taxes than Expected Last Month
Associated Press - February 1, 2017 11:38 am
Kansas is reporting that it collected $24 million more in taxes than it anticipated in January as the Legislature wrestles with closing a shortfall in the current budget.
The state Department of Revenue’s report Wednesday was good news for lawmakers. It is the third consecutive month that tax collections have exceeded expectations.
The department said Kansas collected $544 million in taxes last month. The figure is 4.6 percent higher than the $520 million anticipated.
The revenue report came as a Senate committee reviewed budget-balancing proposals. Kansas still faces a budget gap of about $320 million for the current fiscal year ending June 30.
The development suggests that a new, more pessimistic fiscal forecast issued in November could be close to the mark. The state previously missed its revenue targets regularly.