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Saturday, November 27, 2021

Kansas’ Total Revenue Receipts Outperform Estimates by $157.4 Million for June

TOPEKA – Kansas marks the end of Fiscal Year 2021 with $8.9 billion in total tax collections for the year. That is a $758.1 million, or 9.3%, growth over the estimate. For June, total tax collections were $854.4 million; $157.4 million, or 22.6%, more than the estimate. That is $110.0 million more than last June.

“Our positive June tax receipt numbers show that our efforts to rebuild our state’s economic foundation and strengthen our economy are paying off,” Governor Laura Kelly said. “As we transition into the next fiscal year, my administration will continue moving our economy forward by prioritizing pro-growth policies that will support Kansas businesses and families.”

Individual income tax collections were $372.7 million. That is $48.7 million, or 15.0%, more than the estimate and $19.6 million, or 5.5%, more than June of last fiscal year. Corporate income tax collections were $111.2 million. That is $64.2 million, or 136.5%, more than the estimate and $56.5 million, or 103.2%, more than the same month last year.

“The strong performances from both individual and corporate estimated tax would suggest that perhaps the capital gains from the stock market activity for individuals, and overall corporate profits continue to far exceed expectations,” Secretary of Revenue Mark Burghartsaid.

June retail sales tax collections were $224.2 million, which is $24.4 million, or 12.2% more than the estimate. That is also $21.3 million, or 10.5%, more than the same month of last fiscal year. Compensating use tax collections were $50.3 million; a $10.3 million, or 25.7%, growth over the estimate. That is also $6.9 million, or 15.8%, more than last June.

View the revenue numbers here.

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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