Robust individual income tax receipts during February countered weaker-than-expected corporate income and retail sales tax collections to deliver a $32 million surge in revenue during the month to the state of Kansas, officials said Monday.
The Kansas Department of Revenue reported the state moved within 0.08 percent of the $4.41 billion analysts predicted would be received by close of the eighth month of the current fiscal year. Gov. Laura Kelly and state legislators are closely following the state government's monthly revenue reports as work continues in the 2019 session on development of a new budget.
"Overall, through February, we are back on track with estimates," said Mark Burghart, acting revenue secretary in the Kelly administration.
Last month, the state banked $381 million in tax revenue, a $32 million or 9.3 percent bump from the February target of $349 million.
Kansas reported $134.6 million in individual income tax collections last month. That was $44.6 million above the estimate for February and $21.3 million beyond receipts during February 2018.
"The increase in individual income collections is largely due to strong growth in withholding receipts, while sales tax receipts are below the estimate and actual from the previous year for the fourth straight month," Burghart said.
The state anticipated $176 million in sales tax revenue during February, but took in $168.8 million for the month. That month's total was $7.1 million or 4 percent off the projected pace of collections. In February 2018, the state had $175.6 million in sales tax receipts.
Corporate tax collections in February totaled $3.9 million, which was $2.6 million -- or 39 percent -- below the $6.5 million estimate for the month. The state accepted $6.7 million in corporate taxes during February 2018.