Kansas Lawmakers Worry Over Shortfall in Sales Tax Revenues
Associated Press - August 4, 2015 4:28 pm
Kansas City Power & Light is appealing a September ruling by Kansas regulators reducing the percentage of annual profit the utility is allowed to return to its stockholders.
Kansas legislators are concerned about lower-than-anticipated sales tax collections by the state over the past few months.
The Topeka Capital-Journal reports that a budget study committee’s members quizzed legislative staff members Monday about possible explanations.
Possibilities they discussed included online sales, a softness in the national economy and Kansas City-area consumers driving to Missouri to make purchases.
Republican Sen. Jim Denning of Overland Park said that if collections follow current trends, sales tax revenues will fall short of expectations by between $30 million and $50 million for the fiscal year that began last month.
Legislators in June approved a plan to avert a budget deficit that increased the state’s sales tax to 6.5 percent from 6.15 percent. The increase took effect in July.