5 July 2023
TOPEKA (KSNT) – Governor Laura Kelly announced tax collections in June exceeded estimates due to successes in attracting businesses, expanding Kansas’ workforce and growing the state’s economy.
“This past legislative session, I fought for responsible tax cuts on groceries, property, and Social Security to put this money back in the hands of working Kansans,” Kelly said. “Come January, I am committed to partnering with legislators to get Kansans relief.”
Tax collections in June 2023 were $989 million or $17.3 million more than estimated. Kansas collected $70.2 million or 7.6% more than June 2022, according to a press release from the Office of the Governor.
Of the taxes collected, $379 million was from income tax collections. Income tax collections came in 1.1% short of the estimate but were 14.3 million more than in June 2022, according to the Office of the Governor.
Corporate income tax was 13.1% higher than estimates with $226 million collected or $26 million more than estimated, according to the Office of the Governor. Corporate income tax collections were up 52.7% from June 2022.
Retail sales tax collections were $303.5 million or $1.5 million more than estimates, according to the press release. Retail sales tax collections were 0.5% less than June 2022.
Kansas is expected to collect nearly $10.2 billion in taxes for the fiscal year of 2023. The estimated tax collections would exceed 2023 estimates by $25.9 million, according to the Office of the Governor.
To view the June 2023 revenue numbers, click here.