For the 24th month in a row, Kansas’ tax receipts exceeded the estimates that are used by the Legislature to set budgets for the state’s expenditures like schools, roads, law enforcement, and health care. July taxes surpassed expectations by $127.6 million with $586.2 million collected.
Higher-than-anticipated corporate income tax collections reflect a continued optimism that corporate profits will remain stable in the new fiscal year. Tax collections across the board were all higher than estimates, including sales tax receipts that were 39.4% more than expected.
The link for the complete July 2022 Revenue Report can be found in the online version of the story at kggfradio.com
