On Wednesday, we got an indicator of the strength of the Kansas economy as tax collections far exceeded demands.
KRPS’s Fred Fletcher-Fierro has more.
Kansas Governor Laura Kelly announced yesterday 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. Governor Kelly said in a press release, “These revenue numbers underscore how important it is to provide responsible tax relief now. I remain committed to cutting taxes in a fiscally responsible, comprehensive manner that doesn’t jeopardize the progress we’ve made.”
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 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.
In addition to tax collections, last week the Federal Reserve of St. Louis announced that Kansas’s unemployment is just 2.7%. To compare, during the pandemic in April of 2020 unemployment reached 12.1%.
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