Governor Laura Kelly announced that total tax collections for July of this year were $681 million, which is 2.1%, more than the estimate. Total tax collections are up $94.7 million, or 16.2%, from July 2022. Individual income tax collections were $313.7 million, or 1.2%, more than the estimate, and 4.4%, growth from July 2022. Corporate income tax collections were $44.7 million, or 11.9%, more than the estimate and up 22.2% from July 2022. Combined retail sales and compensating use tax receipts were $315.3 million, or 4.1%, more than the estimate and up 38.8% from July 2022.
Kelly says they are starting the fiscal year on strong financial footing and the numbers show that the state needs to continue to put money back in the hands of working Kansans through responsible tax cuts.
