Tax Collections are Outperforming
Tax collections in total in the month of December continue to outperform the estimate in Kansas. They were up $64.5 million, or 9.1%, for the month of December with a $770.2 collected. In fact, that is $13.6 million. It is a 1.8 percent increase from December of the fiscal year 2020. That’s a good thing for the state of Kansas as things look dismal overall in the ongoing and “supposedly” increasing number of COVID-19 cases and its impact on the city.
Taking Nothing for Granted, Proceeding with Caution
We must continue to be prudent and exercise caution as we move forward,” said Governor Laura Kelly. This is in light of what she says it appears that receipts are relatively stable. In fact, city officials are still determining the full impact that the recent federal COVID-19 relief package is going to have on the state receipts.”
Retail sales tax collections were $201.9 million. $6.9 million, or 3.6%, increase from the estimate. This occurred in December. It is 0.5%, or $995,601, more than the same month of last fiscal year. The compensating use tax collections grew 34.4%. Or $13.4 million. It was over last December with a collection of $52.1 million. It’s $7.1 million, or 15.9%, more than estimated.
Economic Implications of COVID-19 Pandemic
We will get a clearer picture of the economic implications the COVID-19 pandemic has presented these last ten months. Therefore, know how to address those issues. Revenue Secretary Mark Burghart explained. Hopefully, the state will get back on its feet economically and prosper fully again. Everyone in the United States needs some good news and live in that hope.
Individual Income Tax Collections
The individual income tax collections were $306.7 million. This is an increase of 2.2% or $6.7 million which is above the estimate. In fact, these collections were $9.5 million. 3.0% less than the same month of last fiscal year. The corporate income tax collections were $99.2 million for the month; $39.2 million, or 65.4%, more than estimated.
