June Total Tax Receipts Exceed Estimate by Over $17M

Governor Laura Kelly announced that total tax collections for June 2023 were $989.0 million. That is $17.3 million, or 1.8%, more than the estimate and $70.2 million, or 7.6%, more than June 2022.

Individual income tax collections were $379.0 million. That is $4.0 million, or 1.1%, less than the estimate but $14.3 million, or 3.9%, more than June 2022. Corporate income tax collections were $226.2 million. That’s $26.2 million, or 13.1%, more than the estimate and up 52.7% from June 2022.

Combined retail sales and compensating use tax receipts were $303.5 million. That is $1.5 million, or 0.5%, more than the estimate but less than June 2022 by only 0.1%.

Kansas will end FY 2023 with total tax collections of nearly $10.2 billion, which exceeds the FY 2023 revised estimate by $25.9 million.