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Archive for Tuesday, November 1, 2011

State tax receipts for Oct. below estimates

November 1, 2011

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State general fund receipts for October fell slightly below projections for the first time in seven months, officials reported Monday.

The state collected $457.5 million in October, which was $4.2 million, or 0.9 percent, less than previously estimated.

The state would have exceeded the estimate but for the payout of a large one-time refund from prior years, officials said.

“We need to continue to focus on fiscally responsible spending so the state is in a position to accommodate unanticipated revenue events,” said Kansas Department of Revenue Secretary Nick Jordan. The agency did not identify the recipient of the refund.

Even with the slight drop below projections, Kansas is $62 million ahead of estimates for the fiscal year that started July 1. In addition, October tax receipts were $123.2 million more than what was collected in October 2010. Year-to-date, state receipts are running 7 percent more than last year.

Comments

mloburgio 2 years, 5 months ago

Taxes and Budgets Efforts to Reshape the Tax Code to Benefit Big Business and the Ultra Rich

http://alecexposed.org/wiki/Taxes_and_Budgets

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Getaroom 2 years, 5 months ago

In other words, Brownbackward said: “We need to continue to focus on fiscally responsible spending so the state is in a position to accommodate unanticipated revenue events,” said Kansas Department of Revenue Secretary Nick Jordan. The agency did not identify the recipient of the refund.

New opportunities abound for the great one. This refund payout will give Rev. Gov. Brownbackward an excuse for the budget ax to fall. But know this, it is for your own good and by the way, did he forget to mention, it is really all for the second coming of The Lord, not to worry sheeple.

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