March revenue receipts beat estimates
By The Herald Staff | 3/31/2014
TOPEKA — March revenue receipts Monday beat projections by $12.3 million for the month with corporate income and sales tax receipts making strong showings.
“We’re seeing the Kansas economic engine running,” Nick Jordan, Kansas revenue secretary, said. “Companies are hiring, unemployment has significantly decreased compared to a year ago and people have more money to spend – which is reflected in increased sales tax receipts.”
For the second month in a row, monthly revenue receipts have topped not only estimates but actual collections from the year before, Jordan’s office reported. March 2014 tax receipts were $15.8 million more than receipts collected in March 2013.
Corporate income tax receipts were $17.8 million, or 59 percent, more than expected and sales tax receipts were $7.3 million more than estimates, according to state figures.
Tax revenue receipts for the fiscal year to date are $130.7 million more than estimates, or 3.4 percent.