Kansas Monthly Revenues Remain Stronger than Projected
Karuva Kaseke
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.
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