TOPEKA, Kan. (AP) – Kansas has slashed its projections for what it expects to collect in taxes by nearly $1.37 billion to reflect the economic damage associated with the coronavirus pandemic.
The new forecast issued Monday predicts that Kansas will collect less than $6.9 billion in tax revenues during the budget year ending June 30. That’s nearly $816 million, or 10.6%, lower than the previous projection of $7.7 billion.
For the 2021 budget year that begins in July, the new prediction is that the state will collect less than $7.4 billion in taxes. That’s $549 million, or 6.9%, less than the $7.9 billion previously predicted.