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Kansas’ tax collections higher than expected in July

Kansas is reporting that its tax collections were slightly higher than expected in July.

The Department of Revenue said Thursday that the state collected $496 million in taxes last month when its official revenue forecast predicted $494 million.  The $2 million difference was a surplus of 0.4%.

It was the first month of the state’s 2020 budget year.  During the 2019 budget year, the state’s tax collections of almost $7.5 billion were $191 million more than expected, for a surplus of 2.6%.

Tax collections have exceeded expectations 25 of the past 26 months, but the new budget year is getting off to a slightly slower start than the 2019 budget year.

The state collected $499 million in taxes in July 2018, or almost $3 million more than last month.

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