KNDY / KDNS / KZDY / KQNK

Kansas Sees Total Tax Collection Growth Over April Consensus Revenue Estimates

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TOPEKA –The State of Kansas saw total tax collections for May Fiscal Year 2020 at $448.7 million; 6.6% or $27.8 million above the estimate. That is down 20.3% or $114.4 million compared to the same month last fiscal year.

Individual income tax collections were up $5.9 million or 2.8% compared to the estimate with $215.9 million collected. That is 22.3% or $62.0 million less than last May. The increase from the estimate can be attributed to reduced bond payments from withholding and an extra payroll period for the semi-monthly withholding tax filings. Corporate income tax collection receipts were down 167.9% or $8.4 million from the estimate at negative $3.4 million. This is due to the state processing more refunds than it received in corporate income tax collections. When compared to the same month last fiscal year, those collections are down $14.4 million.

Retail sales tax collections were $18.9 million or 12.2% more than estimated with $173.9 million collected. Compared to May of last fiscal year, collections are down $27.3 million or 13.6%. Compensating use tax collections are 25.5% or $7.7 million more than expected at $37.7 million. When looking at last year’s numbers, these collections are $1.2 million or 3.2% more than May of last fiscal year. This can be attributed to the increased registration of online retailers to collect and remit Kansas taxes. On average, the state is seeing 300 new registrations per month.

Derek Nester
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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