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KS Oct tax collections fall short

By Submitted

11/01/2024

TOPEKA - The State of Kansas ends October with total tax collections at $668.2 million. That is $23.4 million, or 3.4%, below the estimate. Total tax collections are down 2.5% from October 2023.

Individual income tax collections were $311.5 million. That is $1.5 million, or 0.5% above the estimate, and up 4.3% from October 2023. Corporate income tax collections were $38.1 million. That is $21.9 million, or 36.5% below the estimate, and down 33.7% from October 2023.

Combined retail sales and compensating use tax receipts were $294.6 million, which is $3.4 million, or 1.1% below the estimate, and down $11.4 million, or 3.7%, from October 2023.

The Consensus Revenue Estimating Group, comprised of the Department of Revenue, Division of Budget, Legislative Research Department, and economists from the University of Kansas, Kansas State University, and Wichita State University will meet on Nov. 15.

Click here to view the October 2024 revenue numbers.

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