Kansas Economy Reported Steady

Tax receipts released Friday continued to reflect a healthy Kansas economy.

A transfer of $9.6 million to the Jobs Creation fund pushed revenue receipts for the month and for individual income taxes short of projections.

August’s receipts, which fell shy of estimates by less than 1 percent, were also the first month to reflect the reduced sales tax rate of 6.15 percent. Without the transfer, revenue receipts would have beat expectations by more than $8 million.

Corporate income tax receipts were also 70 percent, or $3.5 million, more than projected and about twice what was collected in the prior year.

“When the Jobs Creation fund transfer is taken into consideration, revenue receipts still indicate healthy state economy,” said Revenue Secretary Nick Jordan.