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Sunday, October 24, 2021

Kansas Department of Revenue reports end of fiscal year tax receipts

Fiscal year-end tax receipts came in $1.2 billion above last year, and $317.8 million over fiscal year predictions, according to the latest revenue report released Monday by the Kansas Department of Revenue.

Year-end tax receipts were bolstered by a more than 20 percent increase in June collections,. The totals were $133 million over last year which topped expectations for the month by about $143.8 million.

“With tax receipts coming in above expectations every month during the last year, there’s optimism that this trend will continue,” Secretary Sam Williams said. “The increase in sales tax collections indicate more retail spending precipitated by wage gains from the federal tax cuts passed in to law six months ago.”

Fiscal year retail sales tax collections outpace the previous year’s total by $55.8 million. For the month of June, sales tax receipts were $10.76 million more than expectations for the month. It topped collections for June of 2017 by approximately $7 million.

Individual income tax continues to demonstrate strong performance above expectations with fiscal year collections at $229.42 million more than predicted for the year, and $1.07 billion above last year. Individual income tax collections for the month came in $114.03 million more than last June’s receipts.

Derek Nesterhttps://sunflowerstateradio.com
Derek Nester was born and raised in Blue Rapids and graduated from Valley Heights High School in 2000. He attended Cowley College in Arkansas City and Johnson County Community College in Overland Park studying Journalism & Media Communications. In 2002 Derek joined Taylor Communications, Inc. in Salina, Kansas working in digital media for 550 AM KFRM and 100.9 FM KCLY. Following that stop, he joined Dierking Communications, Inc. stations KNDY AM & FM as a board operator and fill-in sports play-by-play announcer. Starting in 2005 Derek joined the Kansas City Chiefs Radio Network as a Studio Coordinator at 101 The Fox in Kansas City, a role he would serve for 15 years culminating in the Super Bowl LIV Championship game broadcast. In 2021 he moved to Audacy, formerly known as Entercom Communications, Inc. and 106.5 The Wolf and 610 Sports Radio, the new flagship stations of the Kansas City Chiefs Radio Network, the largest radio network in the NFL. Through all of this, Derek continues to serve as the Digital Media Director for Sunflower State Radio, the digital and social media operations of Dierking Communications, Inc. and the 6 radio stations it owns and operates across Kansas.

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