Kansas collected $8.2 million more than expected in individual income tax receipts for January?$18.7 million more than what was collected during the same month in 2014.
Corporate income and sales tax receipts fell below expectations by $8.2 million and $3.9 million, respectively, pulling the monthly total in Kansas Department of Revenue Tax Collections to $6.8 million less than estimates.
?We are pleased to see individual income tax receipts continuing to grow compared to last year,? said Revenue Secretary Nick Jordan. ?Corporate income taxes, which have not had a rate change, and sales tax receipts continue to struggle in part because of weaker aviation, oil and agriculture sectors.?
Total tax receipts for January, reflecting money collected by the KDOR and other agencies, totaled $535 million, which is $6.8 million less than estimates.
Total revenue from all tax sources was $546 million, which is $5.8 million below estimates for the month.
Insurance premiums were $47,000 more than estimates for the month.
Total tax receipts for the fiscal year through January are $3.4 billion, or $26 million below estimates. Total revenue from all sources for the fiscal year through January are $3.5 billion, or $37 million more than estimates.
