Kansas Hits Revenue Mark., 1st Time in Months December 1, 2015

AP) – Kansas is reporting that it collected nearly $8 million more in taxes than anticipated in November, with both income and sales taxes exceeding expectations.

The state Department of Revenue said Tuesday the state collected $430 million in taxes last month instead of the $422 million projected in a new fiscal forecast issued earlier in the month. The surplus is about 1.9 percent.

Since the current fiscal year began in July, the state has collected $2.24 billion in tax revenues.

It was the first monthly report since the new and more pessimistic forecast for tax collections was issued.

Tax collections had fallen short of expectations the previous eight months.

Kansas has struggled to balance its budget since personal income taxes were dramatically cut in 2012 and 2013 to stimulate the economy

Kansas Revenue Estimates Miss Mark Again October 2, 2015

(AP) – Kansas collected $31 million less in taxes than anticipated last month, a shortfall that could tighten the state’s budget picture.
The state Department of Revenue reported Thursday that the state took in $534 million in taxes, when its official fiscal forecast projected $565 million. The shortfall was about 5.5 percent.
Tax collections were almost equally as short of expectations in August, but the department attributed that month’s shortfall to larger-than-expected income tax refunds.
Since the fiscal year began in July, tax collections have been $67 million short of expectations, or about 4.7 percent off at about $1.37 billion.
Revenue Secretary Nick Jordan noted that taxes from oil and gas production failed to meet expectations in September because of fallen energy prices. He also said farm income has declined.

Kansas Budget Prediction Misses August Mark September 1, 2015

(AP) – Kansas collected $30 million less in taxes than anticipated in August, but officials said larger-than-expected income tax refunds were largely the reason.
The state Department of Revenue reported Tuesday that tax collections were about $418 million last month, compared with the official projection of $448 million. The shortfall was 6.8 percent.
Budget director Shawn Sullivan noted during a news conference that the shortfall was offset by budget adjustments he announced last month. When those adjustments are considered, the state’s total revenue shortfall was roughly $6 million.
Department of Revenue officials said the state paid out $22 million more than expected in income tax refunds.
The figure included nearly $14 million to a company receiving a corporate income tax credit for investing in its Kansas facilities. Officials declined to name it.

Kansas Hands Out “Extraordinary Need” School Money August 24, 2015

. (AP) – Several school districts in Kansas get less than half the emergency aid they were seeking under measures a state panel approved.

The Topeka Capital-Journal reports (http://bit.ly/1Jh6wZE ) 38 districts, including some of the state’s largest, were vying for $12.3 million in emergency funds that had been allotted by lawmakers for this purpose last March. The districts had submitted requests for aid totaling $15.07 million.

The State Finance Council, which includes Gov. Sam Brownback and eight legislative leaders, granted about $2 million total to 13 school districts experiencing considerable growth in student enrollment this year.

The panel granted another $4 million to 22 districts that lost local revenue for this school year because of declines in the valuation of oil and gas properties. Most of those districts are in western Kansas.

Kansas Revenue Estimates Off in July July 31, 2015

(AP) – Kansas collected about $3.7 million less in taxes than it expected in July, largely because of lower-than-anticipated revenues from its newly increased sales tax.

The state Department of Revenue reported Friday that the state collected $417.6 million in taxes, when officials projected $421.3 million. The shortfall is 0.9 percent.

The report came a day after Gov. Sam Brownback’s budget director announced $63 million in adjustments to the state’s $15.4 billion budget to lessen the chances of a deficit. Lawmakers last month increased sales and cigarette taxes as well.

Sales tax collections were $189.1 million for the month, or $3.9 million less than expected. The shortfall was 2 percent.

But the state’s personal income tax collections were $3 million more than expected, at $153 million. The surplus was 2 percent.

House Democratic Leader Tom Burroughs of KCK said, ““Given that this is the first month of the fiscal year, I am concerned state revenue is already down.”