State tax revenues surge

Income, retail and other tax collections surged in October with $62 million more than projected. The haul left the state with 6.6% more revenue than expected.

By

State News

November 5, 2020 - 9:29 AM

TOPEKA — Kansas’ individual income, retail sales as well as liquor and cigarette tax collections surged in October to deliver $62 million more than projected to the state treasury and offer a slice of budgetary optimism despite lingering concern of a revenue shortfall this fiscal year.

The haul last month left the state with $178 million or 6.6% more in revenue than expected through the initial four months of the fiscal year.

In April, Kansas’ official revenue forecasters said the state should prepare for a shortfall of $650 million by the end of June 2021 absent reductions in spending or increases in revenue. The state is constitutionally prohibited from running an annual budget deficit, but each month of positive tax revenue news shrinks the hurdle for the 2021 Legislature and Gov. Laura Kelly.

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