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Kansas collects $1.05 billion in January taxes

TOPEKA, Kan. (WIBW) – The Sunflower State collected a total of $1.05 billion in taxes in the first month of 2023.

Kansas Governor Laura Kelly announced Wednesday, Feb. 1, that total taxes-only collections collected by the state in January were approximately $1.05 billion. That’s a jump of $56.2 million — 5.7% — over what was originally estimated. Those collections were also $102.4 million — 10.8% — more than what was raised in January 2022.

“Month after month of tax collections exceeding estimates demonstrate that, thanks to our focused focus on supporting businesses, we are now able to responsibly cut taxes for Kansas families,” Governor Kelly said. “We should start by completely and immediately eliminating the state sales tax on groceries, diapers and feminine hygiene products, creating a back-to-school sales tax exemption, and providing Social Security income tax breaks to Kansas seniors. We will succeed if we work together.”

Kelly also noted that personal income tax collections totaled $494.9 million, a decrease of $65.1 million – 11.6% – from the estimate and was about 8, 7% less than it collected in January 2022. It said corporate income tax collections were $166.1 million, or $131.1 million – 364.6% – more than the January estimate, and $134.5 million – 425% – more than raised in January 2022.

“Corporate tax revenues continue to be higher and individual income tax revenues lower due to the switch between the two types of tax brought about by the SALT Parity Act,” said Revenue Secretary Mark Burghart. “The SALT Parity Act now allows owners of pass-through entities, such as S corporations, partnerships, and limited liability companies, to choose to charge pass-through entities tax at the entity level on income flowing through the owners.

The Governor also indicated that retail sales tax collections totaled $275.2 million, about $4.8 million – 1.7% – less than estimated, but still 6.6 % more than what was collected the previous January. He said offsetting use tax collections were $86.1 million, or $3.9 million—4.3 percent—less than estimated, but still 2.4 percent higher than estimated. to what was collected last year.

To see the full January 2023 revenue numbers, click HERE.

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