Monday, 26 October 2020
Login |  Register 
MSC News National Headlines Tech Talk Sports Top Headlines
State of Kansas Tax Collections $40.2 million Above Estimates
09/02/2020
 

Governor Laura Kelly announced that in its second month of Fiscal Year 2021, the State of Kansas continued to see total tax collections performing above estimates. Total tax collections for August were $543.5 million. That is $40.2 million, or 8.0%, more than the estimate. That is 9.3%, or $46.3 million, ahead of last August.

“While this news shows that the steps we have taken to protect our economy are working, we have to remain fiscally cautious,” Governor Laura Kelly said. “The state of Kansas is still recovering from COVID-19 and we have to stay vigilant. That means all Kansans should wear a mask, practice social distancing and avoid mass gatherings so we can keep our schools and our businesses open.”

August's individual income tax collections were 12.9%, or $31.0 million, more than the estimate with $271.0 million collected. Compared to the same month last fiscal year, that is a 17.2%, or $39.7 million in growth. Corporate income tax collections were 10.5% more than August of last fiscal year with $7.3 million collected. That is $2.3 million, or 46.9%, more than the estimate.

Retail sales tax collections were 2.5%, or $5.1 million, more than the estimate with $207.1 million collected. That is a $1.8 million growth compared to the same month of last fiscal year. Compensating use tax collections were $12.7 million, or 38.9%, more than last August with $45.3 million collected. That is $9.3 million more than estimated.

So far, the state has collected $95.7 million in compensating use taxes for the fiscal year; a $24.0 million, or 33.6%, increase compared to the same two months of last fiscal year.

"The year-over-year increase in compensating use tax collections demonstrates the importance of increasing the number of registrations by remote sellers," Secretary Mark Burghart said. "By increasing the number of out-of-state retailer registrations, we create fairness between out-of-state online retailers and main street Kansas."

The state is $35.6 million, or 2.4%, ahead of projections for the year with $1.5 billion in total tax collections for the fiscal year. When comparing total tax collections over the same timeframe to the previous fiscal year, the State of Kansas is $531.0 million, or 53.5%, ahead of Fiscal Year 2020.

 

You will need to be logged in to leave a comment.
Please Login

characters left

The posting of advertisements, profanity, or personal attacks is prohibited.
Click here to review our Terms of Use.



MOST VIEWED STORIES
New court dates set for fatal fight suspects
Stolen car sends three to jail
Hiawatha man injured in Friday Brown Co wreck
Stolen vehicle recovered in Brown Co
Longtime Atchison businessman remembered
Update: 2 abducted girls found, suspect in custody
City moves forward with condemnation proceedings on 7 structures
Atchison Co reports 5th Covid related death
KS governor seeks mask mandate again
Mask mandate issued for all Jefferson Co facilities
Covid-19 cases on the rise in SE Nebraska
New Brown Co Services for Elderly Director hired
Grants awarded to local businesses
Health advisory lifted for local lake
Local Radio Stations Offer New Streaming Sites
Two local tribes awarded USDA grants
Hiawatha Commission approves fire truck purchase
Creation of Regional Housing Authority discussed
Nemaha Co Clerk's Office reopens to public
Truck driver injured in Holt County wreck

Click Here For All Stories


LATEST STORIES
Update: 2 abducted girls found, suspect in custody
Hiawatha man injured in Friday Brown Co wreck
Creation of Regional Housing Authority discussed
Free lunches for Sacred Heart School students
Pawnee City Council discusses nuisances
Health advisory lifted for local lake
KS governor seeks mask mandate again
Hiawatha Commission approves fire truck purchase
Grants awarded to local businesses
Drug Take Back Day Saturday
Click Here For All Stories

©2020 MSC News
Hiawatha, Ks 66434
EEO Public Report
KNZA - KLZA - KMZA - KTNC - KAIR
Powered by Radio Media Group
172.69.62.166