Some Tax Collections Sag In December, But Kansas Still Beat Estimates
Tax collections in Kansas shrank last month compared to December 2017. Some types of tax collections sagged, but the state still beat the December estimate. Halfway through the fiscal year the overall revenue picture is still good.
The economists who create the estimates had expected a downturn in Kansas tax collections in December, but some drops were larger than anticipated.
Individual income taxes were $8 million below the projection and retail sales taxes also missed the mark.
The projections have already been adjusted to take into account the 2017 tax increases, but corporate income taxes still came in well above the target.
When it was all tallied up, the state collected $10 million more than expected last month.