Kansas' June Tax Collections Nearly $33M More Than Expected
Kansas is reporting that it collected nearly $33 million more in taxes than anticipated in June and ended its 2019 budget year with solid revenue growth.
The state Department of Revenue said Tuesday that Kansas collected nearly $782 million in taxes last month. The state's fiscal forecast had predicted a little more than $749 million in taxes, making the surplus about 4.4%.
Tax collections exceed expectations 24 of the past 25 months.
The state collected nearly $7.5 billion in taxes during its 2019 budget year, or $191 million more than expected. That was a surplus of 2.6%.
The budget year's tax collections grew nearly 6.3% from the 2018 budget year, or by $440 million.
It's likely that Kansas ended its 2019 budget year with $1 billion in cash reserves.