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Archive for Tuesday, November 30, 2010

Kansas tax collections come up just short of projections

November 30, 2010

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— Kansas saw its tax collections fall short of expectations in November, but not by much.

The Department of Revenue issued preliminary figures Tuesday showing that the state collected $384 million in taxes during the month. That's $783,000 less than forecast, but the difference is just two-tenths of 1 percent.

It was the first report since state officials and university economists issued a new financial forecast on Nov. 2, and a significant shortfall in tax collections would complicate budgeting for Gov.-elect Sam Brownback and legislators.

The state has collected $2.15 billion in taxes since the current fiscal year began July 1, again only $783,000 short of expectations.

In November, individual income tax collections were slightly higher than forecast, and retail sales tax collections were slightly lower than expected.

Comments

gbulldog 4 years, 2 months ago

I need to replace a 16 yr old pickup with 150,00 + miles on it. When I purchase a vehicle, I will have to pay a "bunch of sales tax and property tax". I am looking at this cost plus the purchase price plus lost interest for a newer truck. As I do my calculations, I am seriously consider rehabing my 16 yr old truck and contine driving it. My rehab will include a backup camera that will be required on on vehicles sold in the near future.

If because of the high taxes and high price of vehicles, it would appears to me that there are a lot of persons keeping their vehicles longer, This probably applies to other major purchases. No wonder revenue projections are down. To raise revenue, the Government will propose rules and regulation that outlaw older vehicles on the road because of EPA concerns or safety concerns.

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