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Tax collections up for KS

By Submitted

01/02/2025

(MSC News)--The State of Kansas ends December 2024 with total tax collections at $1.1 billion. That is $66.7 million, or 6.3%, above the estimate. Total tax collections are up 8.1% from December 2023.

“As I’ve highlighted before, even though our state- revenues are healthy, we must practice fiscal responsibility,” Governor Laura Kelly said. “That is how we will continue to maintain economic growth and preserve our fiscal stability.”

Individual income tax collections were $451.5 million, $31.5 million or 7.5% above the estimate, and up 13.7% from December 2023. Corporate income tax collections were $275.4 million, $45.4 million or 19.7% above the estimate, and up 16.8% from December 2023.

Combined retail sales and compensating use tax receipts were $285.4 million, $13.6 million or 4.5% below the estimate, and down $17.0 million or 5.6% from December 2023.

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