Kansas collected $11M more in taxes than expected in July
TOPEKA, Kan. (AP) — Kansas is reporting that it collected $11 million more in taxes in July than anticipated to make it the longest streak of better-than-expected revenues in at least 50 years.
The state Department of Revenue reported Wednesday that tax collections were $499 million last month. The state’s official forecast had predicted $488 million in taxes.
The monthly surplus was 2.3 percent.
It was the 14th consecutive month that tax collections have been better than forecast. An AP spreadsheet compiled from monthly reports shows that the state hasn’t seen a streak that long since at least February 1968.
The state ended its 2018 budget year on June 30 with more than $7 billion in tax collections and exceeded expectations by $318 million. The annual surplus was 4.7 percent.