The State of Kansas begins the new year with an increase in tax revenues.

 

The State Department of Revenue announced yesterday that total tax collections for January were $942.8 million or 1.7% above estimates. Individual income taxes collections also showed an increase of more than 5% compared to a year ago. However, corporate income tax collections came in 21% below estimates and nearly 19% less than January 2024.

 

State Secretary of Revenue Mark Burghart stated that a delay in the tax system deployment was the cause of the descrepency.

 

Retail sales taxes were also strong, bringing in $11.8 million more than was forecast.

 

Governor Laura Kelly stated that despite current revenues, it remains important to continue to focus on fiscal responsibility to ensure the long-term financial health of the state.

 

The full report can be seen at this link.