Kansas Monthly Revenues Remain Stronger than Projected
October 6, 2021
The first quarter of the 2022 fiscal year closed with revenues again exceeding estimates with September receipts coming in $159.8 million higher, or 23.2 percent above, the $690.1 million projection. For the entire first quarter, total receipts ($2.06 billion) were $335.8 million or 19.5 percent above the estimate ($1.73 billion).
Corporate income tax collections for the month of September were $145.3 million, 142.1 percent or $85.3 million higher than expected. Individual income tax collections also outpaced estimates bringing in $406.8 million, which was $51.8 million or 14.6 percent more than estimated.
Sales and use taxes also continued the positive trend, bringing in a combined $285.9 million for retail and compensating use – 8.3 percent above the $264.0 million estimated.
As with previous months this quarter, revenues for September were higher than pre-pandemic 2019, and this marked the third consecutive quarter of higher-than-expected revenue collections.
While these revenue numbers predict a positive outlook for the Kansas economy, Kansas Action for Children will continue monitoring and advocating for budget policies and investments that prioritize opportunity and stability for every Kansas family.< Back to the news list