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Kansas February tax collections surpass estimates, same month in Fiscal Year 2020

By Madison Parry

Total tax collections for February 2021 performed 4.5 percent above the estimate and better than the same time last year. Total collections brought in $455.9 million over the month, $19.8 million above estimate, and $7.6 million (1.7 percent) more than February 2020.

The second month of the year brought in $455.9 million in total tax collections for Kansas. This was above the estimate for February collections, and above that of the same time last year, in Fiscal Year 2020.

Kansas’ February total tax collections rolled in $19.8 million above the estimate set for the month and $7.6 million (1.7 percent) better than last February, according to a Tuesday news release from the governor’s office.

“Though tax receipt numbers continue to look encouraging, we must maintain fiscally-responsible, prudent practices as the economic impacts of the pandemic continue to take shape,” Kansas Gov. Laura Kelly said in the release.

Individual income tax collections were $193.7 million. That is up 7.6 percent, or $13.7 million, for the month. Those collections are $22.3 million, or 13.0 percent, more than the same month of last fiscal year.

Corporate income tax collections were up $3.2 million, or 63.5 percent, for the month with a collection of $8.2 million. That is $1.0 million, or 14.3 percent, more than February of Fiscal Year 2020.

According to the FY 2021 State General Fund Receipts report, Kansas collected $4.3 million (2.4 percent) more than the estimate in retail sales taxes, collecting $179.3 million collected. Compensating use tax collections were down $3.3 million, or 7.9 percent, for the month with $38.7 million collected.