Kansas collects $39.5M more in taxes than expected in March
TOPEKA, Kan. (AP) — Kansas says it collected $39.5 million more in taxes than it expected in March to make it the 10th consecutive month revenues were greater than anticipated.
The Department of Revenue reported Monday that tax collections last month were almost $490 million when the state’s official fiscal forecast predicted $450 million. The surplus was 8.8 percent.
Since the start of its current budget year July 1, the state’s tax collections have exceeded expectations by about 7 percent.
The state has collected $4.8 billion in taxes so far during the fiscal year and the official estimate predicted $4.5 billion. The surplus is $315 million.
Revenue Secretary Sam Williams said changes in federal tax laws enacted last year are a key factor and it’s hard to say how much economic growth is occurring.