taxes

Stephen Koranda / KPR/File photo

A bill under consideration in the Kansas Statehouse would speed up implementation of a law making it more difficult for city and county governments to raise local taxes. Supporters of the so-called property tax lid told a Senate committee today that the restriction on tax increases should be strengthened and put on the fast track. The law, passed last year, bars local governments from increasing property taxes faster than the rate of inflation without a public vote. Lawmakers are now...

Ervins Strauhmanis, flickr Creative Commons

Kansas tax collections came in nearly $7 million below estimates last month, despite some bright spots in the January report. Kansas individual income tax collections came in $8 million higher than expected, but corporate income tax collections were well below the estimate and sales tax receipts also came up short. Revenue Secretary Nick Jordan says weak oil, aviation and agriculture industries are hurting tax collections. In relation to the full state budget, a $7 million shortfall is not...

A tax amnesty program for delinquent taxpayers brought in less money than lawmakers anticipated. The program allowed people and businesses to pay back taxes without a penalty. Lawmakers estimated it would generate $30 million, but the program brought in $23 million. While the total was $7 million less than expected, Kansas Revenue Secretary Nick Jordan is still happy with the results. “I think it’s a good number. It’s obviously collection of taxes due, rightfully so they’ve been paid. Most of...

Ervins Strauhmanis, flickr Creative Commons

Kansas collected $27 million less than expected in taxes last month, largely driven by sagging income and sales tax receipts. The drop is enough to erase the state’s small estimated savings account. Kansas Secretary of Revenue Nick Jordan says it’s too early to tell if it’s a one-time drop in income taxes or a trend. “It is the first time this fiscal year that individual income tax receipts have not grown compared to the prior fiscal year to date,” Jordan says. Unless the coming months beat...

State officials will learn today if tax collections last month in Kansas met their projections. As KPR’s Stephen Koranda reports, the state is expecting a small savings account, so monthly revenue numbers are critical. In November, economists and Kansas officials lowered the projected tax collections for the current fiscal year. That put Kansas into a deficit. Gov. Sam Brownback’s administration immediately announced budget adjustments to fill the hole, but as Budget Director Shawn Sullivan...

Stephen Koranda / Kansas Public Radio/File photo

Kansas tax collections beat projections last month. Taxes were $8 million above estimates and adding in other sources of state revenue brings the November surplus to more than $15 million. Kansas Secretary of Revenue Nick Jordan says individual income taxes and retail sales taxes were two of the bright spots in the month of November. “We aren’t going to throw too big a party yet, but it’s one month and it’s a good sign that there’s been some growth this month,” Jordan says. Democratic state...

Kansas officials will learn soon whether the state's tax collections in November met expectations. The report due Tuesday from the Department of Revenue is coming less than a month after state officials and university economists issued a new, more pessimistic forecast for tax collections through June 2017. The new forecast reflected economic slumps in agriculture and energy production and a softness in recent months in consumer spending. Republican Gov. Sam Brownback's budget director...

Stephen Koranda

Gov. Sam Brownback’s administration announced a series of financial moves last week to deal with a budget deficit . The plan takes money from the highway fund and other areas to cover the shortfall, but it leaves the state with a razor-thin savings account estimated at under $6 million. A buffer that small could be quickly wiped out if revenue collections come in short of expectations . “Obviously, not the ending balance that would be desired or would not be enough to get us through the...

Stephen Koranda / KPR/File photo

Kansas officials Friday lowered the state’s estimated tax collections by $160 million for the current year. That puts the state into a nearly $120 million budget deficit. In response, Gov. Sam Brownback’s budget director, Shawn Sullivan, unveiled a series of spending adjustments to cover the shortfall. The plan takes $50 million from the state highway fund. It also relies on unexpected savings and money shifted away from the Kansas Bioscience Authority and other areas. Sullivan says they’re...

Stephen Koranda / KPR/File photo

Kansas tax collections have been lagging behind expectations in recent months. A group of economists and state officials will meet today to update the revenue projections, which are used when lawmakers write the budget. KPR’s Stephen Koranda reports on what could be amended. Sales tax collections have been coming in short in Kansas, meaning that is one of the areas where the projections could be lowered. Legislative research economist Chris Courtwright says they expected with low gas prices...

Pages