February tax collections exceed estimates by $34.3 million

TOPEKA - The State received $377.7 million in General Fund Receipts for February, $34.3 million over the estimate of $343.4 million. General Fund receipts for the fiscal year to date were down only $5 million.

Individual tax collections are up $44.6 million for the month compared to estimates, coming

in at $134.6 million; up $21.3 million when compared to same month last year. Corporate income tax collections for February came in at $3.9 million, down $2.6 million for the month. February retail sales is also $7.1 million below the estimate for the month.

“The increase in individual income collections is largely due to strong growth in withholding receipts, while sales tax receipts are below the estimate and actual from the previous year for the fourth straight month,” Mark Burghart, Acting Revenue Secretary said. “Overall, through February we are back on track with estimates.”

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