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.