Kansas Tax Collections $108M More Than Anticipated In May
The state is reporting that it collected $108 million more than expected in May to give the state a full year's worth of monthly revenue surpluses.
The state Department of Revenue on Friday attributed the surge's size to last-minute income tax payments in mid-April not being processed until early May. But Kansas hasn't seen a 12-month streak of better-than-expected tax collections since at least January 1989.
The state collected $555 million in taxes last month when it projected $447 million. The surplus was 24.1 percent.
The state collected almost $6.3 billion in taxes from the start of the current fiscal year in July 2017 through May. That is $174 million more than expected, for a surplus of 2.9 percent even after state officials revised revenue projections upward in April.