Fiscal year tax collections have exceeded previous year’s totals by $195.73 million according to data from the latest revenue report released Wednesday, according to a media release from the Kansas Department of Revenue.
Fiscal year 2019 tax collections so far total $3.39 billion, exceeding current estimates by $13.06 million.
December tax collections were down $24.24 million, or 3.41 percent below last December. December’s tax collections exceeded expectations for the month by $10.59 million.
Individual income tax collections in December totaled $291.52 million which is $43.85 million or 13.07 percent below the same time last year. Corporation income tax collections in December totaled $69.61 million which is $22.61 million above current expectations and $29.47 million above the same time last year. December sales tax collections fell short of last December’s collections by $1.97 million.