Kansas revenue takes another hit, $10 million below estimates

The Kansas Department of Revenue announced Thursday that total tax collections in August were $10.2 million below estimates.

The collections were up about $9.7 million compared with the same time last year, according to the department.

“Individual income taxes beat estimates for the second month of the fiscal year, which is encouraging, but corporate, sale and use tax receipts continue to lag, pulling down the overall totals,” Secretary of Revenue Nick Jordan said in a statement.

The state’s corporate income taxes fell sharply in the last month. The state estimated that the collection would bring in $10 million. Instead, it brought in just over $300,000, an almost 97 percent miss from the estimate. Retail sales tax receipts were also off, by $14.1 million.

The state also is looking into creating a new estimating formula that “will be more reliable and accurate,” according to the announcement. Thursday’s numbers continued a trend of tax collections in Kansas falling below estimates.

The last time the state’s total tax collections topped projections happened in April, when receipts were $2.6 million above expectations.

This story was originally published September 1, 2016 at 4:52 PM with the headline "Kansas revenue takes another hit, $10 million below estimates."