Tax Revenues Down Again in Kansas
Associated Press - October 2, 2015 6:18 am
Kansas collected $31 million less in taxes than anticipated last month, a shortfall that could tighten the state’s budget picture.
The state Department of Revenue reported Thursday that the state took in $534 million in taxes, when its official fiscal forecast projected $565 million. The shortfall was about 5.5 percent.
Tax collections were almost equally as short of expectations in August, but the department attributed that month’s shortfall to larger-than-expected income tax refunds.
Since the fiscal year began in July, tax collections have been $67 million short of expectations, or about 4.7 percent off at about $1.37 billion.
Revenue Secretary Nick Jordan noted that taxes from oil and gas production failed to meet expectations in September because of fallen energy prices. He also said farm income has declined.