April Total Tax Collections Nearly 8.0% Above the Estimate
Joe Denoyer - May 1, 2024 4:20 pm
April Total Tax Collections Nearly 8.0% Above the Estimate
TOPEKA – Governor Laura Kelly today announced that total tax collections for April were $1.42 billion. That is $101 million, or 7.7%, more than the monthly estimate. Total tax collections are up 9.6% from April 2023.
Individual income tax collections were $740.3 million in April 2024. That is $91.0 million, or 14.0%, more than the estimate, and up 24.7% from April 2023.
Corporate income tax collections were $338.2 million last month, which is $6.3 million, or 1.9%, more than estimates. It does, however, reflect a 4.5% drop from corporate income tax collections at this same time last year.
Combined retail sales and compensating use tax receipts were $295.1 million, which is $3.1 million, or 1.1% more than the estimate but down $13.5 million, or 4.4%, from April 2023.
The Consensus Revenue Estimating group met on April 19 to revise estimates for fiscal years 2024 and 2025
