Kansas Tax Collections $8.5M More Than Expected In November
Kansas is reporting that it collected $8.5 million more in taxes than anticipated in November. It was the sixth consecutive month with higher-than-expected revenues.
The Department of Revenue reported Friday that the state collected $463.5 million in taxes last month. The official projection was $455 million, and the surplus is 1.9 percent.
It was the first monthly report on tax collections since state officials revised revenue projections Nov. 2. The state's new fiscal forecast is more optimistic than the previous one issued in April.
Since the budget year began in July, the state has collected nearly $2.5 billion in revenues, also $8.5 million more than expected.
Tax collections this year are 11.7 percent ahead of last year's collections. Lawmakers increased income taxes earlier this year to help balance the budget.