Kansas Taxes $4M Less Than Expected in August
Associated Press - August 29, 2014 7:58 pm
Kansas residents who buy health insurance on their own could see their premiums increase up to 25.4 percent next year under new rates approved by the state's Insurance Department this week.
A new report says Kansas collected $4 million less in taxes than expected in August.
The Department of Revenue said Friday the state took in $421 million in taxes, about 1 percent below the official forecast of $425 million.
The department called revenues flat but said there are signs of economic growth in the figures. Corporate income tax collections exceeded expectations for the month.
The state saw a slight surplus in tax collections in July. Since the current fiscal year began July 1, the state has collected about $829 million in revenues, against projections of nearly $832 million. The difference is about $2.4 million, or 0.3 percent.
The numbers are likely to renew a political debate over massive income tax cuts enacted at Republican Gov. Sam Brownback’s urging.