Revenue Receipts Meet Expectations In November
Joe Denoyer - December 1, 2016 10:45 pm
TOPEKA – November revenue receipts met estimates for the month.
Corporate income tax receipts were $52,000 more than expected and individual income tax receipts were $970,000 more than estimates.
“Retail sales and corporate taxes continue to show negative growth due to agricultural and energy sector weakness. The individual income tax collections for November showed negative growth compared to last year due to the timing of withholding payments. Income tax is showing 3.62 percent growth compared to last year,” said Secretary of Revenue Nick Jordan.
Overall, the state collected $1.4 million more in total tax receipts than estimated.
Total revenue collections totaled $408.8 million for the month or $333,291 more than expected.
The state has collected $2.27 billion for the fiscal year to date.