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KS Revenue Down Again

TOPEKA – Corporate, sales and use taxes reversed several months of weaker-than-expected receipts and total taxes were $1.7 million below, or 99.63 percent of estimates.

Sales tax receipts were $5.9 million more than expected, use tax receipts were up $3.1 million and corporate income tax receipts were $1.5 million higher than projected.  Insurance premiums were $6.7 million more than anticipated.

Individual income tax receipts - while $6.9 million more than March 2014 -fell short of projections by $14.4 million.

While revenue collections from all sources exceeded estimates by $13 million, $15.2 million of that is due to transfers approved in the budget that have yet to be incorporated into consensus revenue estimates. 

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