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Kansas Revenues Beat July Estimate

Associated Press - July 31, 2013 7:16 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 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.