Retail sales tax collections were $184.1 million; $2.3 million or 1.2% below the estimate. Compensating use tax collections were 2.4% higher than estimated with $41.5 million collected.
As predicted, the State of Kansas saw a decrease in total tax collections when compared to April of Fiscal Year 2019. These reductions are largely due to announced tax date extensions, which gave relief to Kansans while moving collections into the Fiscal Year 2021, according to a media release from the Kansas Department of Revenue.
On April 20, the Consensus Revenue Estimating Group, comprised of the Department of Revenue, Division of Budget, Kansas Legislative Research Department, and economists from the University of Kansas, Kansas State University, and Wichita State University, met to review the fall estimates and make revisions. These revisions take into consideration the changes in tax deadlines, consumer purchasing behaviors, and employer withholdings.
The state’s total tax collections for April were $578.1 million. Compared to April last fiscal year that is down $610.7 million or 51.4%. However, the state is in line with the revised estimates as those collections are 0.10% or $360,655 more than the estimate.
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May 01, 2020