Archive for Tuesday, March 31, 2015

Kansas officials await word on this month’s tax collections

March 31, 2015

— Kansas officials are waiting to see whether state tax collections this month met expectations.

The state Department of Revenue's report to be released Tuesday afternoon comes as lawmakers worked on proposals to erase a budget shortfall projected at nearly $600 million for the fiscal year beginning July 1.

Tax collections for the current fiscal year through February were $38 million short of official projections, about 1 percent less than anticipated.

But the state collected $27 million more in taxes than expected for February alone.

If tax collections exceed expectations again this month, it could make closing the projected budget shortfall easier for lawmakers and Republican Gov. Sam Brownback.

The budget shortfall arose after lawmakers aggressively cut personal income taxes in 2012 and 2013 at Brownback's urging to stimulate the economy.

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