Liberal, KS

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Sunday

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Kansas Revenue Collections Off In May

KSCB News - June 1, 2010 12:00 am

Kansas collected $24 million less in taxes than expected in May.

A report released by the Department of Revenue on Friday shows that Kansas collected $332 million for the month.

Estimates were for Kansas to collect $356 million.

A factor in the shortage was lagging corporate income taxes. The state estimated it would collect $25 million for the month, but instead paid $3.2 million in refunds.

For the fiscal year that ends June 30, Kansas is now some $89 million short in what is needed to balance the budget.

The report was released the same day legislators held their formal closing ceremony for the 2010 session.

 

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