Taxes
5:49 pm
Thu October 31, 2013

State Tax Revenues Miss Expectations In October

The Kansas Department of Revenue says the state collected nearly $18 million less in taxes than anticipated in October.

Figures released Thursday also show tax collections have been $27 million short of expectations since the fiscal year began in July.

The biggest reason is a shortfall in individual income tax collections.

For the month, Kansas collected $445 million in taxes, but officials had expected $463 million. Kansas has collected $1.81 billion in revenue for the fiscal year to date, instead of the $1.84 billion expected.

The state anticipated $220 million in individual income collections in October but instead took in $187 million, missing the mark by 15 percent.

Kansas enacted massive income tax cuts in 2012 that have contributed to the revenue declines.