State revenue totaled $5.54 billion in fiscal 2011, according to preliminary data from the Kansas Department of Revenue. The total is $685 million more than in fiscal 2010, and $88 million more than April’s official forecast.
Sales tax collections of $1.97 billion topped 2010 revenues by 19%, but revenues were actually flat as a 19% increase in the state sales tax rate went into effect at the beginning of the fiscal year.
Individual income tax revenue totaled $2.7 billion, up 12% from 2010.
Revenue Secretary Nick Jordan said he was encouraged by an $11 million gain in revenue from the capital gains and business income taxes.
Many small-business owners report the levies on their individual returns, he said.
