Governor Kelly Announces September Total Tax Collections $42M More than Estimate
TOPEKA – Governor Laura Kelly today announced that total tax collections for September 2023 were $991.6 million. That is $42.0 million, or 4.4%, more than the estimate. Total tax collections are up $30.6 million, or 3.2%, from September 2022.
“Because of my administration’s work to put our state on solid financial footing, we have been able to grow our economy and make historic investments in schools, roads, and law enforcement,” Governor Laura Kelly said. “Now, it’s time to give money back to Kansans through responsible tax cuts. Last session, I proposed a plan to cut property, grocery, and retirement taxes in a way that helps every family without robbing the state of its ability to continue growing the economy and making those key investments. Let’s get it done this upcoming session.”
Individual income tax collections were $390.9 million. That is $24.1 million, or 5.8%, below the estimate and down 11.4% from September 2022. Corporate income tax collections were $261.5 million. That is $61.5 million, or 30.8%, more than the estimate and up 53.7% from September 2022.
“Wage withholding remains one of the most reliable revenue streams with 12.2% growth over September 2022. In addition, the SALT Parity Act continues to cause a shift between individual and corporate income tax receipts, with the former being $24.1 million below the estimate and the latter being $61.5 million over the estimate,” said Secretary of Revenue Mark Burghart. “Notwithstanding this reporting anomaly, overall tax receipts closely track the Consensus Revenue Estimate for the month of September.”
Combined retail sales and compensating use tax receipts were $305.1 million, which is $5.1 million, or 1.7%, more than the estimate and down $4.5 million, or 1.4%, from September 2022.
Click here to view the September 2023 revenue numbers.