Monday, September 22, 2014

Receipts $16.8M more than expected

By The Herald Staff | 1/31/2014

TOPEKA – Revenue receipts for three key economic indicators released Friday beat projections for January and indicate that Kansas’ economy continues to grow, according to the Kansas Department of Revenue.

Corporate income tax receipts finished the month 225 percent more than expected, or $11.2 million, while use tax receipts ended $5.7 million, or 16 percent above estimates and individual income tax receipts were $4.5 million more than expected, the agency said in a press release.

TOPEKA – Revenue receipts for three key economic indicators released Friday beat projections for January and indicate that Kansas’ economy continues to grow, according to the Kansas Department of Revenue.

Corporate income tax receipts finished the month 225 percent more than expected, or $11.2 million, while use tax receipts ended $5.7 million, or 16 percent above estimates and individual income tax receipts were $4.5 million more than expected, the agency said in a press release.

State sales tax receipts missed projections by $5 million, or 2.6 percent, indicating a weaker than expected Christmas shopping season in December, the press release said. January tax receipts were $16.8 million more than expected putting the state $21.1 million above estimates for fiscal year 2014.

“Corporate income, individual income and use tax receipts point to an economy where businesses are growing, purchasing equipment and creating jobs at a healthy rate,” Nick Jordan, department of revenue secretary, said.

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