TOPEKA – Governor Laura Kelly announced today that total tax collections for March 2023 were $758.3 million. That is $64.9 million, or 9.4%, more than the monthly estimate. That is also $78.7 million, or 11.6%, more than March 2022.
“Time and again, we have exceeded our estimated tax collections, providing further proof that we can responsibly axe taxes on groceries, retirement, and property for Kansans,” said Governor Laura Kelly.
Individual income tax collections were $314.6 million. That is $438,000 less than the estimate but $16.4 million, or 5.5%, more than March 2022. Corporate income tax collections were $102.6 million, which is $75.6 million, or 279.9%, more than the estimate and $74.9 million, or 271.1%, more than March 2022.
Combined sales and compensating use tax receipts were $275.4 million, which is $422,000 more than the estimate and $4.9 million, or 1.7%, less than March 2022. The reduced year-over-year receipts for March from these tax sources are due in part to the reduction of state sales tax on food and food ingredients.
The Consensus Revenue Estimating Group, comprised of the Kansas Department of Revenue, Division of Budget, Legislative Research Department, and economists from the University of Kansas, Kansas State University, and Wichita State University, will meet on April 20. The Group will review the fall estimate and make any revisions it may consider necessary.
Click here to view the March 2023 revenue numbers.
