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Kansas tax collections in August continue downward slide
08/30/2013 3:53 PM
08/30/2013 3:57 PM
The Kansas revenue slump continues.
Figures released Friday show overall Kansas revenue collections were down 9.4 percent compared with collections the previous August.
Put another way: in August, Kansas took in $41.4 million less than the previous August.
The drop was led primarily by a 17 percent slump in individual income tax collections, August-to-August.
The slide in overall state income reflects continuation of a trend:
May: +3.4 percent compared with May 2012
June: -6.2 percent
July: -7.1 percent
August: -9.4 percent
For the first two months of the fiscal year — July and August — Kansas has received $73.9 million less than in July and August 2012, before the major tax cut bill was in place.
That means almost $74 million was left in the pockets of Kansas taxpayers over the two months, and not sent to Topeka.
But it also suggests the increase in economic activity predicted by tax cut supporters hasn’t yet materialized.
The tax cuts went into effect in January.
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