TOPEKA — Kansas is reporting that it collected about $7 million less in taxes than anticipated in January, with corporate income and sales taxes falling short of expectations.
Monday’s report of a shortfall came as legislative budget committees prepared to discuss proposals for closing a projected shortfall approaching $200 million in the budget for the fiscal year beginning July 1.
The Department of Revenue says the state collected $535 million in taxes last month instead of the $542 million projected in a November fiscal forecast. The shortfall is 1.3 percent.
Since the current fiscal year began in July, the state has collected $3.38 billion in taxes. That’s $26 million less than anticipated.
The department noted that personal income tax collections exceeded expectations in January but not for the entire fiscal year.