Topeka, KS– Governor Laura Kelly today announced that total tax collections for February were $502.5 million. That is $18.7 million, or 3.9%, more than the February estimate. Those collections are also $46.6 million, or 10.2%, more than February 2021.
“My administration has taken steps to restore the Kansas economy, and that fiscal responsibility has paved the way to provide direct tax relief to Kansans,” Governor Laura Kelly said. “I urge the Legislature to work together to send me a clean bill eliminating the state’s tax on food immediately, so that we can put this money back into the pockets of Kansas taxpayers.”
Individual income tax collections were $183.4 million in February. That is $6.6 million, or 3.5%, below the estimate. However, it is important to note that income tax refunds are being issued much quicker than in prior years. There have been 15,000 more refunds sent out in February 2022 compared to February 2021. The increase in refunds total $21.0 million more paid out in February compared to the same month of 2021.
“The positive trend in tax receipts continues with all of the major tax types, individual income tax, corporate income tax, retailer’s sales tax, and compensating use tax, performing well. But for the larger number of refunds issued in February, individual income tax receipts also would have surpassed the February estimate,” said Secretary of Revenue Mark Burghart. “We are pleased to be able to get individual income tax refunds paid more quickly and into the accounts of taxpayers.”
So far, nearly 281,000 refunds, totaling $147.0 million, have been paid out this filing season. Refunds for electronically filed returns can be expected to be deposited in taxpayers’ bank accounts in 4-7 days, with some deposits occurring in as little as three days.
Corporate income tax collections were $23.4 million, which is $12.4 million, or 112.8%, more than the February 2022 estimate. Those collections are $15.2 million, or 186.3% more than February 2021, reflecting substantial corporate profits.
Retail sales tax collections were $195.2 million, which is $5.2 million, or 2.8% more than the estimate. Those collections are also $16.0 million, or 8.9%, greater than February 2021. Compensating use tax collections were $59.4 million, which is $4.4 million, or 8.0%, more than the estimate. Those collections were $20.7 million, or 53.7%, more than February 2021.
View the tax receipts here.