Kansas missed tax expectations in April by more than $4 million, just 10 days after the state lowered its revenue expectations.
The state collected about $511.5 million in tax revenue for April, about $4.4 million below expectations. That was primarily because of corporate income tax revenue, which fell $3.3 million below expectations.
Individual income tax receipts were $248,000 shy of expectations.
When the numbers were released this week, Secretary of Revenue Nick Jordan said in a statement that the figures “do not fully reflect the individual income and corporate tax receipts. Because of an overload of returns received close to the April 15 deadline, we are still processing paper returns.”
The state updated its tax revenue estimates April 20, lowering expectations for the year by $87.5 million from estimates in November. The April shortfall comes after that.
That adds to a budget shortfall of more than $400 million for next year.
Yet this year’s estimates were significantly more on target than they were last April, when the state missed expectations by $90 million and then fell short the following two months.
To date, the state has collected $4.46 billion in tax revenue for the fiscal year that ends in June. The state is projected to take in a total of $5.55 billion in tax revenue this fiscal year.
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