For June 2020, total Kansas tax revenue fell by 4.8 percent from last June. For the just-completed fiscal year 2020, revenue was down by 5.7 percent from the previous year.
Tax reports from the State of Kansas for June 2020 reveal some of the effects of the response to the pandemic on state finances.
When reporting on Kansas tax collections, the comparison is usually made to the estimated collections. Those estimates were revised in April based on economic conditions affected by the response to the pandemic. To get a feel for the effects of the response to the pandemic, it is best to compare to the same month the prior year.
For June 2020, individual income tax collections were $353,085,379, down 9.0 percent from last June. Retail sales tax collections rose by 1.9 percent to $202,954,351. Total tax collections were $744,387,640, down 4.8 percent from the same month last year. A nearby table summarizes.
June also marks the end of fiscal year 2020. For the year, individual income tax was down by 11.1 percent, retail sales tax was up slightly, and all other taxes down by 1.6 percent. In sum, tax revenue fell from $7,471,302,208 in fiscal year 2019 to $7,049,143,310 in fiscal year 2020, a decline of 5.7 percent.
My report on tax revenue for April details some changes made by the estimating group.
My interactive visualization of Kansas tax revenue has been updated with June data. Click here to use it.Learn how you can support the Voice for Liberty. Click here.