July Total Tax Collections at 660.3 Million; 1.0% Below the Estimate

TOPEKA – The State of Kansas ended July 2024 with total tax collections at $660.3 million. That is $6.4 million, or 1.0%, below the estimate. Total tax collections are down 3.0% from July 2023.

Individual income tax collections were $308.5 million, which is $8.5 million, or 2.8% above the estimate and down 1.7% from July 2023. Corporate income tax collections were $34.3 million, which is $15.7 million, or 31.4%, below the estimate and down 23.3% from July 2023.

Combined retail sales and compensating use tax receipts were $305.1 million, which is $4.1 million, or 1.4% above the estimate, and down $10.1 million, or 3.2%, from July 2023. Retail sales tax receipts are 3.7% less than the July 2023 collections as Kansans continue to save money on groceries from the reduced state food sales tax rate.