Tax receipts pass projections by a half-billion dollars
June 2, 2021
On June 1, the monthly State General Fund Revenue Receipt Update was released. Kansas taxes exceeded expectations by more than $500 million, or almost double predictions.
Estimated revenue from total receipts for May was $528 million, and the actual revenue brought in for receipts was $1.06 billion. Estimated revenue from total taxes for May was $544 million, but the actual revenue brought in for total taxes was $1.05 billion.
The May 2021 total taxes ($1.05 billion) are much higher than May 2020 receipts ($448.66 million). These numbers reflect the recovering economy and suggest an overall positive direction for the state.
The Kansas Legislature’s 2021 session ended last month, but the effects of lawmakers’ work remain to be seen. Kansas Action for Children will continue to monitor how new laws will affect the state’s revenue. Stay tuned!< Back to the news list