Overall Revenue Collections Up in Kansas
Joe Denoyer - April 3, 2017 11:17 am
Kansas collected $424.8 million in total revenue for the month of March and $4.2 billion for the current fiscal year.
The total puts all revenue collections $57.5 million more than estimates for the fiscal year to date.
Total tax collections were $11.6 million below expectations for the month. State sales tax receipts were $2.3 million more than anticipated while individual income tax receipts were $11.1 million below expectations for March.
“Although withholding receipts grew $7.6 million compared to the prior year, that was offset by $12.3 million more in refunds paid out this month compared to March 2016, pulling individual income tax receipts below estimates,” said Revenue Secretary Sam Williams. “The March revenue receipts continue the trends we have seen over the last few months – withholding
Earlier this year, the Internal Revenue Service announced it was holding all refunds for taxpayers claiming Earned Income Tax Credits and Additional Child Tax Credits until mid-February for extra scrutiny as a fraud prevention measure. The delay also pushed back when Kansas received many of those returns, so refunds typically paid in late-January or February are being paid out in March.