Kansas Taxes Nearly $12M Short of Expectations in March
Associated Press - April 3, 2017 11:18 am
Kansas is reporting that its tax collections in March fell nearly $12 million short of expectations.
The Department of Revenue said Monday that the state collected almost $429 million in taxes last month when it had projected it would take in more than $440 million. The monthly shortfall was 2.7 percent.
The state had seen tax collections that had exceeded expectations the previous four months. Even with the shortfall in March, the state’s tax collections are still nearly $57 million ahead of expectations for the current fiscal year that begin in July 2016.
Legislators had seen the previous greater-than-expected tax collections as a positive sign as they consider raising taxes to fix the state’s serious budget problems. Kansas is facing budget shortfalls totaling more than $1 billion through June 2019.