Tax Collections Surpass the Estimate by $64.5 Million
Joe Denoyer - January 3, 2022 5:19 pm
TOPEKA – Governor Laura Kelly announced that total tax collections for December were $890.3 million. That is $64.5 million, or 7.8%, more than the monthly estimate. That is also a 15.6%, or $120.0 million, growth over December 2020.
“Over the past three years my administration has taken steps to restore the Kansas economy, and that fiscal responsibility has paved the way to provide direct tax relief to Kansas taxpayers,” Governor Laura Kelly said. “That relief will come specifically through proposals like axing the food tax and offering a one-time $250 tax rebate for Kansas families.”
Individual income tax collections were $355.2 million. That is $35.2 million more than the estimate and $48.5 million, or 15.8%, more than the previous December. Corporate income tax collections were $132.0 million, which is $22.0 million more than the estimate. That is 33.1%, or $32.8 million, more than the same month of the previous year.
Retail sales tax collections were $224.3 million for December. That is $4.3 million, or 2.0%, more than the estimate and 11.1%, or $22.4 million, more than December 2020. Compensating use tax collections were $69.2 million. That is $2.2 million, or 3.3%, more than the estimate. Those collections are also $17.0 million, or 32.7%, more than the previous December.