January state general fund tax revenues of $581 million beat expectations by more than $28 million due mostly to an unforeseen jump in the individual income tax, the Kansas Department of Revenue said last week.
Preliminary figures indicate the individual income tax generated more than $318 million in January, beating the prediction by $18.5 million.
The Revenue Department said income tax revenue of $1.57 billion since the beginning of the fiscal year on July 1 is 8% higher than the same period of fiscal 2010.
Corporate income-tax collections of $12 million were $5 million more than expected, the department said.
The sales tax, which is Kansas’ second-largest revenue source, has generated $1.2 billion in fiscal 2011, about the same as in fiscal 2010 despite a July 1 increase in the rate to 6.3% from 5.3%.
According to the Revenue Department, ,January’s sales tax revenue of $189 million was $5 million less than the official estimate.
