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You are at:Home»State News»Kansas revenues tops estimates by $6M, budget shortfall trimmed to $342M

Kansas revenues tops estimates by $6M, budget shortfall trimmed to $342M

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By KMAN Staff on January 3, 2017 State News
The State Capitol Building in Topeka.

TOPEKA — Kansas revenue officials say the state slightly exceeded revenue estimates in December.

The Kansas Department of Revenue said Tuesday tax collections in December were nearly $531 million, exceeding revenue estimates by about $6 million, or about 1 percent. Combined with higher than expected revenues in November, the state’s budget shortfall in the current fiscal year is now about $342 million.

The new numbers come after state officials drastically reduced the revenue forecasts in November.

The biggest gains in December were in individual income taxes, which came in $2.2 million, or nearly 5 percent, above the official estimates. They were nearly 7 percent higher than in December 2015.

Acting Revenue Secretary Sam Williams says he hopes the new numbers indicate improved purchasing power in the agriculture and oil and gas sectors.

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