Quantcast

Sunflower State News

Saturday, May 18, 2024

Individual income tax puts $1 billion into Kansas's revenue in Q3, 2023

Webp iw8rxm8c8g3uptg6yr6t2enqkqws

Mark Burghart, Director Department of Revenue | Kansas Department of Revenue

Mark Burghart, Director Department of Revenue | Kansas Department of Revenue

Kansas collected $1 billion in individual income taxes during the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

Overall, Kansas collected $2.9 billion in combined tax revenues in the third quarter of 2023.

During 2023, the U.S. government collected a total of $4.44 trillion in revenue. Individual income taxes were the biggest contributor, generating $2.18 trillion—nearly half of all revenue collected. Payroll taxes came in second, adding around $1.6 trillion to revenue. The third largest source was corporate income taxes, generating $420 billion.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3, 2023 Kansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$26
Sales and Gross Receipts Taxes$1,433
Income Taxes$1,347
Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS