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Thursday, November 21, 2024

Kansas' Q1 individual income tax revenue up 2.6% from previous quarter

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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 first quarter, a 2.6% increase over the fourth 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 $988 million.

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 $3.3 billion in combined tax revenues in the first quarter, an increase from the $2.8 billion collected in the previous quarter.

Q1 Kansas Tax Collections
Type of TaxAmount (millions)
Property Taxes$571
Sales and Gross Receipts Taxes$1,415
Individual Income Taxes$1,014
Corporation Net Income Taxes$192
License Taxes$134
Other Taxes$4
Source: U.S. Census Bureau

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