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.