Kansas slashes projections for tax collections nearly $1.37B

Kansas
money-cash-100-dollar-bills-finance-taxes_1523651288022_361414_ver1_20180414054501-159532

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.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories