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Archive for Friday, October 29, 2010

Kansas tax collections exceed estimates

October 29, 2010

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For the third straight month, the state has collected more tax revenue than earlier projected, officials said Friday.

Gov. Mark Parkinson said the October revenue figure was good news.

“This news is not just an example of how the responsible budget that was passed by the bipartisan coalition in the Legislature is working, but also how our economy is heading in the right direction,” Parkinson said.

The $447 million in collections in October was 2.9 percent more than earlier projections, and 11.8 percent more than the amount collected in October 2009.

For the fiscal year, which started July 1, the state is 2.9 percent ahead of projections and has collected 11.8 percent more than at the same time last year.

State budget experts will meet Tuesday to project the next fiscal year’s financial outlook.

“As we learn more about our state’s future responsibilities, my administration will remain focused on doing all that we can in the coming months to keep Kansas on the road to recovery,” Parkinson said.

Comments

Bob_Keeshan 4 years, 1 month ago

3 straight months of the Kansas economy imploding thanks to a tax increase.

If not for the economy killing and jobs killing tax increase, revenues would be $500 million above estimates.

WilburM 4 years, 1 month ago

Oh, the horror!!!! Ha. The Legislature's gift to Sam Brownback, who will not, of course, seek its repeal.

kansasmutt 4 years, 1 month ago

Tax money taken from the people who can`t aford it, way to go.

If you add that 1% tacked on extra now, the real number compared to last year would be down , not up.

More bogus numbers to fool the people !!!!!

finance 4 years, 1 month ago

How predictable. Never satisfied, are 'ya? When the economy is sour, you're sour too. When the economy improves, same old sourness continues to flow. Get a life.

kansasmutt 4 years, 1 month ago

When they lie about the state of the economic conditions, it does no good. If they tell it like it is people will respect them and feel as if they do care about us and will try to fix it. At this time the real numbers need to be put on the table.

Times are going to get worse before they get any better and that is where we are now. They need to assure people they are looking at our future with a fine tooth comb , and finding ways to help us , not new taxes to make them look good.

You can`t add state jobs and tax your people to the hilt to make the number you want. You have to put the people back to work AND let them have a disposible income once again before ANYTHING will start to rebound. Raising taxes to create a false growth is bogus and an outright lie and is cheating people of Kansas !!!!!

notajayhawk 4 years, 1 month ago

"October was 2.9 percent more than earlier projections, and 11.8 percent more than the amount collected in October 2009.

"For the fiscal year, which started July 1, the state is 2.9 percent ahead of projections and has collected 11.8 percent more than at the same time last year."

If that's not a typo, then the month of October was exactly on track with the three months preceding it. Maybe it's time to revise those projections so they won't be so 'unexpected'.

Bob_Keeshan 4 years, 1 month ago

If only a group would get together on Tuesday and do that.

"State budget experts will meet Tuesday to project the next fiscal year’s financial outlook."

Heavens to Betsy!

FWIW, the projections currently being exceeded were being criticized by groups like AFP and the Kansas Chamber for being overly optimistic. By exceeding the overly optimistic projections, AFP and the Kansas Chamber are being proven correct that the sales tax increase has killed the Kansas economy, at least that's what they'll tell you.

notajayhawk 4 years, 1 month ago

The next fiscal year starts next July, bobbie. Surprised you didn't know that. (Actually, no, I'm not.)

Bob_Keeshan 4 years, 1 month ago

And the consensus revenue estimating group meeting in November also adjusts revenue predictions for the current fiscal year.

Surprised you didn't know that (Actually, no I'm not).

WilburM 4 years, 1 month ago

Bob K: Stop using actual facts and real policies. You can't win with that kind of muddled thinking!

notajayhawk 4 years, 1 month ago

As a matter of fact I did know that, Captain Pedantic. Despite the fact that you think your position as a government flunky gives you some special access to information, it's public record. You can even find it on the Division of the Budget's website: "This group meets each spring and fall. Before December 4th, the group makes its initial estimate for the budget year and revises the estimate for the current year."

I was referring to nothing more than your usual attempt at snide pseudo-superiority by posting the quote you chose as some kind of an "Ah hah!" moment. I mean, you did know there's a difference in the meaning of the two words "next" and "current", didn't you? Although no, I would not be surprised if you didn't.

Bob_Keeshan 4 years, 1 month ago

I think your clown shoes are on too tight and not enough blood is getting to your brain. Again.

notajayhawk 4 years, 1 month ago

So, I was wrong ... you didn't know the difference between "next" and "current"? I deeply apologize, bobbie. Must be so difficult for you.

BigDog 4 years, 1 month ago

They didn't state it this month but in past month's .... the increase is almost exactly equal to the amount of the sales tax increase. Which means the economy has not really improved over where it was last year.

The good news is it hasn't worsened and people haven't stopped purchasing stuff due to the sales tax increase.

Bob_Keeshan 4 years, 1 month ago

This would be true, but the estimates included a minor jump in the economy.

The sales tax collections for October were 24% higher than last year.

Scott Tichenor 4 years, 1 month ago

Don't worry, soon-to-be governor Klownback will ride to the rescue just in time to rob the educational system of Kansas furtherand get it back to where it really needs to be, in the hands of non-Kansas based corporations that contribute to his campaign. How's that trickle down thingy working for ya'all?

George Lippencott 4 years, 1 month ago

Well, since the sales tax revenue is up about 20% on the year it would seem that maybe we did not lose business because of the sales tax increase??

notajayhawk 4 years, 1 month ago

It would also tend to suggest that the state can make money despite all those pesky 'tax breaks for the rich and corporate welfare' everyone complains about.

George Lippencott 4 years, 1 month ago

NJH Not sure how you developed that from the data. Since the tax cuts for business are more than a year old then year on year data would not show the impact.

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