Tax receipts for the state of Kansas during the month of May are lower than estimated, but revenue officials say, the shortfall is not cause for alarm.

 

 The State brought $658.9 million into state coffers for the month of May. That total is about 22.7% less than estimates. However, Secretary of Revenue Mark Burghart says the reason for the shortfall is two additional processing days in April. Burghart says that, along with more efficient payment processing, meant the Department of Revenue was able to process payments in April that would typically have been processed in May.

 

Individual income tax collections were $305.2 million. That is $144.8 million, or 32.2% below the estimate, and down 30.6% from May 2023. Corporate income tax collections were $39.8 million. That is $53.2 million, or 57.2% below the estimate and down 56.3% from May 2023.

Combined retail sales and compensating use tax receipts were $281.9 million, which is $4.2 million, or 1.5% above the estimate, and down $7.7 million, or 2.7%, from May 2023.

 

Total tax collections for FY 2024 through May are $8.977 billion which is $92.0 million or 1.0% below the estimate.  

 

To see the full report, go here.