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(MSC News)--A combination of factors including lower than expected corporate sales and individual income taxes pulled Kansas revenue receipts below estimates for February.
Tax receipts were $49.9 million below expectation for the month. Individual income tax receipts were $27 million less than expected driven in part by the state paying out $8.4 million more in refunds and bringing in $11 million less in withholding compared to February 2015. Most of the $11 million withholding shortfall came from the state’s 85 largest weekly filers.
Corporate income taxes were down $7.7 million, and state sales tax receipts were $12.3 million short of estimates for the month.
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Hiawatha, Ks 66434