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Friday, July 30, 2021

Kansas Total Tax Collections $484.6 Million Ahead of July of Last Fiscal Year

TOPEKA—The State of Kansas starts Fiscal Year 2021 by surpassing its total tax-only collections by $484.6 million compared to July of last fiscal year. Total tax collections for the first month of the fiscal year were $980.8 million. That is $4.6 million, or 0.5%, less than the estimate.

“While state revenue collections are more than the beginning of last fiscal year, we must continue to make fiscally sound decisions to minimize the economic impact of the COVID-19 pandemic moving forward,” Governor Laura Kelly said.

The State collected $619.6 million in individual income taxes for the month; an increase of $395.3 million, or 176.3%, compared to the July of Fiscal Year 2020. However, these collections were $30.4 million, or 4.7%, less than the estimate for the month. Corporate income tax collections were $69.8 million; $5.2 million, or 6.9%, less than estimated but an increase of $54.6 million compared to July of FY 2020.

Retail sales tax and compensating use tax collections performed better than both the monthly estimate and in their comparison to July of last fiscal year. Retail sales tax collections were $218.6 million; $16.6 million, or 8.2%, more than the estimate. That is a $14.0 million, or 6.9%, growth compared to July of FY 2020. Compensating use tax collections were 39.8%, or $14.3 million, more than estimated, with $50.3 million collected. That is an increase of $11.3 million, or 29.1%, compared to the same month of FY 2020.

“The state has seen consistent growth in compensating use tax collections as approximately 4,000 out-of-state online retailers have registered with the state under Kansas Department of Revenue Notice 19-04,” Secretary Mark Burghart said. “In addition, changing consumer purchasing patterns, which focus on online purchases during the COVID-19 pandemic, account for some of the increased use tax receipts.”

Kansas Department of Revenue Notice 19-04 was published Aug. 1, 2019, which notified retailers of sales tax requirements for doing business in Kansas.

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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