Friday, January 2, 2009
Kansas collected 7.2% less in general tax revenues than expected in December.
It's more bad news for a state that's already projected to end its current fiscal year on June 30 with a $141 million budget deficit.
Preliminary figures from the Department of Revenue show the state collected almost $482 million in December. But financial forecasters had predicted more than $519 million in tax collections. The difference is $38.6 million.
From the start of the fiscal year on July 1 through Dec. 31, tax collections were nearly $48 million short of expectations. They were $2.6 billion, or 1.8%, less than anticipated.
The biggest shortfall was in corporate income tax collections.