Strong July revenues continue Kansas recovery streak
August 3, 2021
The first month of the 2022 fiscal year signaled a promising start, as Kansas revenues exceeded pre-pandemic levels. Total taxes for the month were $602.6 million – 11% or $60 million higher than estimated. This was 18% higher than July 2019. Revenues were 39% lower than July 2020, but this was largely due to the delay of last year’s tax filing deadline to July 15, which pushed revenues into the following fiscal year. While the tax deadline for 2021 was delayed, it did not extend into the next fiscal year.
July corporate income taxes more than doubled expectations, reaching $34 million, while individual income taxes were 8.9% higher than estimated, totaling $255.8 million. Retail sales taxes were 5.2% or $11.6 million above estimates, with collections of $233.6 million. Compensating use taxes brought in $59.3 million, about $4.3 million or 7.8% more than expected.
As the state works on recovery projects and investments made possible by the billions of dollars in federal relief, we should stay alert for possible revenue impacts from the surging COVID-19 Delta variant. This will be an area of focus and concern for the Department of Revenue and one that Kansas Action for Children will continue to monitor.< Back to the news list