State Keeps Exceeding Revenue Estimates

February was another month of Kansas tax collections being well ahead of projections.

Total tax collections in Kansas for February were just over $502 million.

That is $18.7 million, or 3.9%, more than the February estimate.

Individual income tax collections were over $183 million.

That is $6.6 million below the estimate.

However, income tax refunds are being issued much quicker than in prior years.

The increase in refunds total $21 million more paid out compared to the same month of 2021.

Corporate income tax collections were over $23 million, which is $12.4 million, or 112.8%, more than the estimate.

Retail sales tax collections were about $195 million, which is $5.2 million, or 2.8% more than the estimate.

Compensating use tax collections were more than $59 million, which is 8% more than the estimate.