TOPEKA – The State of Kansas ends January 2024 with total tax collections at $928.6 million. That is $64.1 million, or 6.5%, below the estimate. Total tax collections are down 11.3% from January 2023.
“Coming short of the estimates for the third month in a row emphasizes that tax cuts must be done in a fiscally responsible way,” Governor Laura Kelly said. “The bipartisan tax package that I’ve proposed to the legislature provides substantive and direct tax relief to all Kansans – without putting at risk our overall economy.”
Governor Kelly’s bipartisan tax plan was introduced in the Kansas House and Senate last month.
Individual income tax collections were $475.9 million. That is $19.1 million, or 3.9%, below the estimate, and down 3.9% from January 2023. Corporate income tax collections were $89.8 million. That is $25.2 million, or 21.9%, below the estimate and down 45.9% from January 2023.
Combined retail sales and compensating use tax receipts were $344.3 million, which is $18.7 million, or 5.1%, below the estimate and down $16.9 million, or 4.7%, from January 2023.
