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Economy

Kansas Tax Collections Less Than $2 Million Below Estimates In March

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Ervins Strauhmanis, flickr Creative Commons
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Tax collections in Kansas were less than $2 million short of estimates last month.

The state Department of Revenue on Friday said total tax receipts were $1.7 million below projections. The numbers are a turnaround from February, however, when collections were almost $54 million short, eating up the state's meager $6 million savings account.

Sales, corporate income and insurance premium taxes all came in higher than expected in March. Kansas Revenue Secretary Nick Jordan said the numbers did rebound, but not as much as expected.

"While corporate income, sales and use tax receipts are up, oil severance payments are down. It is a trend that is contributing to a sluggish economy in many rural counties which depend heavily on oil and commodities," he said in a statement.

State officials and university economists are scheduled to meet on April 20 to revise Kansas' revenue projections, the AP reports. State economists lowered projections in November after months of lagging numbers. Tax collections have come in short 11 out of the previous 12 months.

The revenue department reports that total tax collections for the fiscal year thus far are $4.1 billion--$81.3 million below estimates.

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Follow Nadya Faulx on Twitter @NadyaFaulx.

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