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Kansas revenues short $18M in October

Associated Press - October 31, 2013 7:33 pm

Kansas hit its new, more pessimistic revenue projections for November, with tax collections exceeding estimates by $1.4 million.

The Kansas Department of Revenue says the state collected nearly $18 million less in taxes than anticipated in October.

Figures released Thursday also show tax collections have been $27 million short of expectations since the fiscal year began in July.

The biggest reason is a shortfall in individual income tax collections.

For the month, Kansas collected $445 million in taxes, but officials had expected $463 million.

Kansas has collected $1.81 billion in revenue for the fiscal year to date, instead of the $1.84 billion expected.

The state anticipated $220 million in individual income collections in October but instead took in $187 million, missing the mark by 15 percent.

Kansas enacted massive income tax cuts in 2012 that have contributed to the revenue declines.

Iggy P Daily

November 1, 2013 at 10:07 am

Gee could it be because the economy is in the toilet. Or is it a combination of that and business’s closing?

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