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Salinas Womens Cliinic
KSN

Kansas Taxes $4M Less Than Expected in August

Associated Press - August 29, 2014 7:58 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.

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.