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Thursday, November 21, 2024

Lower individual income tax revenue in Kansas during Q3 2023

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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, a 28.9% decrease from the second quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

The previous quarter's individual income tax revenue was $1.4 billion.

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

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.

Overall, Kansas collected $2.9 billion in combined tax revenues in the the third quarter of 2023, a decrease from the $4 billion collected in the previous quarter.

Q3 2023 Kansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$26
Sales and Gross Receipts Taxes$1,433
Individual Income Taxes$1,004
Corporation Net Income Taxes$343
License Taxes$100
Other Taxes$4
Source: U.S. Census Bureau

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