Kansas December revenues tops estimates

January 03, 2017 - 2:07 pm
Categories: 
TOPEKA, Kan. — Kansas revenue officials say the state slightly exceeded revenue estimates in December.

The Kansas Department of Revenue said Tuesday tax collections in December were nearly $531 million, exceeding revenue estimates by about $6 million, or about 1%. Combined with higher than expected revenues in November, the state's budget shortfall in the current fiscal year is now about $342 million.

The new numbers come after state officials drastically reduced the revenue forecasts in November.

The biggest gains in December were in individual income taxes, which came in $2.2 million, or nearly 5%, above the official estimates. They were nearly 7% higher than in December 2015.

Acting Revenue Secretary Sam Williams says he hopes the new numbers indicate improved purchasing power in the agriculture and oil and gas sectors.
Comments ()