Sales, Corporate Taxes Boost Kansas Revenues
Associated Press - March 31, 2014 7:07 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 better-than-expected collections of Kansas sales and corporate income taxes helped swell state revenue by $12.2 million more than anticipated in March.
Monday’s report from the state Revenue Department also says tax collections through the first eight months of the fiscal year totaled nearly $4 billion, about $130 million more than expected.
Corporate taxes in March had been projected at $30 million but totaled $47.7 million instead. Sales tax receipts in the month were $7.9 million more than the $155 million that was anticipated.
The state’s fiscal year runs from July 1 through June 30.