Wednesday, February 1, 2012
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.