Newspaper article The Topeka Capital-Journal

Tax Revenues Beat Forecast for October

Newspaper article The Topeka Capital-Journal

Tax Revenues Beat Forecast for October

Article excerpt

Kansas tax revenue collected in October beat estimates and last year's collections, the Kansas Department of Revenue announced Wednesday.

According to the report, total tax revenue beat estimates by 6.8 percent, or $31.7 million. Individual income taxes came in 9.25 percent ahead of estimates while corporate taxes beat estimates by more than 38 percent.

The report comes a day ahead of revised revenue estimates. The Consensus Revenue Estimating Group will reassess what it thinks the state will collect over the fiscal year and release that report Thursday.

Consensus revenue estimators could predict a better budget situation than they originally released. The state has beat estimates in each month since the new fiscal year began July 1 with a retroactive tax increase expected to bring in $1. …

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