State’s May tax receipts came in $77.1 million above estimates
TOPEKA - May tax receipts came in $77.1 million above the $486.0 million estimate for all tax categories.
Individual income tax receipts are $67.9 million, or 32.3%, above the estimate of $210.0 million. Corporate income tax receipts are $9.0 million, or 44.8%, below the estimate of $20.0 million.
Retail sales tax receipts are $201.1 million, an increase of $8.1 million, or 4.2% above the May estimate.
“Increases in May receipts are largely due to the continued growth in individual income receipts,” Kansas Revenue Secretary Mark Burghart said. “Retail sales and use taxes also contributed almost $10.6 million to the growth in receipts.”