Kansas wraps up Fiscal Year 2012 on a high note
Kansas finished the fiscal year on Friday with $4.2 million more in its coffers than anticipated by the April consensus revenue report.
Revenue receipts for just the month of June were $32.3 million, or 5.6 percent, more than estimates.
The state continued to show strong growth in June corporate income tax receipts, which were $19.7 million, or 44 percent, more than anticipated. Sales tax receipts were $9.4 million more than expected.
“Since January 2011, we have put the state back on a firm financial foundation, turning a $500 million deficit into a strong positive balance,” said Revenue Secretary Nick Jordan. “After a year of 8.4 percent revenue growth, we have a much healthier economy and are poised to provide Kansas families and business with the tax relief they deserve.”