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Kansas Revenues Beat July Estimate

Associated Press - July 31, 2013 7:16 pm

A monthly survey of bankers suggests the economy will remain weak in rural parts of 10 Midwestern and Western states because of low grain and oil prices.

A monthly survey of bankers suggests the economy will remain weak in rural parts of 10 Midwestern and Western states because of low grain and oil prices.

Kansas officials say revenue collections beat estimates by $3.1 million in the first month of the new fiscal year.

A report Wednesday from the Department of Revenue says July’s figures were boosted by strong sales tax collections, which were $9.1 million higher than expected. Overall revenues for the month totaled $425.4 million.

Among other categories, individual income tax collections in July topped expectations by $3.4 million. But corporate income taxes came in $1 million below the figure predicted earlier by economists and researchers.

Severance taxes on production from Kansas oil wells also missed the estimate, by nearly $1.2 million.

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