December tax collections for the State of Kansas surpass expectations.
The State of Kansas ends December 2024 with total tax collections at $1.1 billion. That is $66.7 million, or 6.3%, above the estimate. Total tax collections are up 8.1% from December 2023. Collection totals for individual income tax and corporate taxes were both well above estimates and also more than in the previous year.
However, retail sales and compensating use receipts came in below estimates and were down $17 billion from December 2023. That's a drop of more than 5%.
Governor Laura Kelly stated that the government must continue to practice fiscal responsibility despite the relative health of state finances. Kelly added that being responsible will help the state maintain economic growth and preserve fiscal stability.
