Kansas Hits More Pessimistic Tax Projections in November
Associated Press - December 2, 2016 12:15 pm
Kansas hit its new, more pessimistic revenue projections for November, with tax collections exceeding estimates by $1.4 million.
But the report Thursday from the state Department of Revenue did not significantly alter the state’s gloomy budget picture. It still faces a projected shortfall of more than $345 million for the current fiscal year that began July 1.
The state expected to collect $399.9 million in taxes in November and collected $401.3 million. The surplus was 0.3 percent.
It was the first monthly report on tax collections since officials slashed the state’s official revenue projections three weeks ago to reflect their pessimism about the economy.
Tax collections last met expectations in April after forecasters issued the previous revenue projections. They’ve fallen short of expectations 10 of the past 12 months.