Kansas tax collections slightly better than expected in July
TOPEKA, Kan. (AP) — Kansas is reporting that its tax collections were slightly higher than expected in July.
The Department of Revenue said Thursday that the state collected $496 million in taxes last month when its official revenue forecast predicted $494 million. The $2 million difference was a surplus of 0.4%.
It was the first month of the state’s 2020 budget year. During the 2019 budget year, the state’s tax collections of almost $7.5 billion were $191 million more than expected, for a surplus of 2.6%.
Tax collections have exceeded expectations 25 of the past 26 months.
But the new budget year is getting off to a slightly slower start than the 2019 budget year.
The state collected $499 million in taxes in July 2018, or almost $3 million more than last month.