Even with the April Consensus Revenue Estimating Groups’ upward revision, Kansas revenue receipts exceeded expectations.
The state collected $639 million in total tax revenue receipts for April, driven largely by $319.5 million in individual income tax receipts for the month. Individual income tax receipts exceeded estimates by $3.3 million and April 2016 monthly collection by $36.6 million.
“I’m pleased to see that withholding tax receipts have grown for the fifth straight month compared to the year prior helping bolster individual income tax receipts overall,” said Revenue Secretary Sam Williams. “Withholding taxes are a good barometer of the state’s economic health because the tax is directly linked to more people working or people working more hours or for higher wages.”
For the fiscal year to date, the state has collected $4.8 billion in total tax receipts - $53.5 million more than fiscal year to date in April 2016 – and $5 billion overall.