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Archive for Wednesday, February 1, 2012

Tax refunds cut into Kansas revenues

February 1, 2012

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— A high number of Kansas tax refunds added up to lower-than-expected state revenue collections in January.

The Department of Revenue said Tuesday that overall receipts were $30.6 million less than anticipated, with individual income receipts off by $33 million.

Revenue Secretary Nick Jordan says Kansas has seen a 25 percent increase in electronic tax filings and that many people are getting their refunds earlier than previous years. The agency said refunds are being paid within a week of electronic forms being filed.

On the positive side, Jordan said use-tax collections exceeded estimates by $7 million in January.

For the first seven months of the current fiscal year, overall revenue collections are up 6.2 percent, or $200 million, from the same period last year.

Comments

Richard Heckler 2 years, 2 months ago

Can we believe anything Nick Jordan says about money at Kansas government? Don't think so.......

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christopherhess 2 years, 2 months ago

It's not "revenue" if it wasn't the KDOR's to begin with...taxpayers giving the state a loan throughout the year by not claiming enough allowances isn't the same as genuine "revenue" (meaning, tax money that is received and will stay within KDOR...)

Thought: educate Kansan's on responsible tax planning (appropriate withholding throughout the year that keeps the taxpayer within a $100 of money owed or money received). The taxpayer benefits with more income throughout the year to spend on sales tax (that the state keeps), not (surplus) income tax that the state refunds....

The state benefits because it's not showing money in the fall that disappears in the Spring...

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