State Revenues Inch Up 0.6%

Kansas Gov. Sam Brownback said last week he was encouraged by an 0.6% increase in state tax collections in November that totaled $441 million, which was $2.6 million more than expected.

The state will benefit from the lower income tax rates approved by the 2012 Legislature, according to Brownback, a Republican.

“Year to year, you can have difficulties, but where we’re headed is a much better long-term, sustainable position than where high-tax states are headed,” the governor said.

November revenues exceeded last year’s collections by $35.2 million. Individual income tax collections were $3.6 million more than expected in the latest official revenue forecast.

General fund collections have totaled $2.4 billion in fiscal 2013. Total general fund revenues in the current fiscal year are predicted at $6.2 billion, but revenues in fiscal 2014 are expected to $5.5 billion.

Revenue Secretary Nick Jordan said revenues are slightly above expectations due to increased oil production and healthy holiday spending.

“These positive numbers are tangible proof that Kansans, and the state, are in a better economic place than we were last year,” Jordan said. “It is encouraging to see solid signs that the economy is improving, but we can still do better by focusing on tax policy and a frugal budget.”

For reprint and licensing requests for this article, click here.
Kansas
MORE FROM BOND BUYER