Through the end of March 2020, Kansas state tax revenues have not seen the effect of the economic slowdown due to COVID-19.
Data from the State of Kansas shows that through March 2020, tax revenues to the state have not shown much effect from the economic slowdown in response to COVID-19.
Of the two major tax categories (individual income tax and retail sales tax), both were slightly above estimates. Total tax revenue was down slightly. A nearby table illustrates.
The major taxes that were below estimates were corporate income tax at $8.6 million below estimates, and insurance premium tax at $19.5 million below.
The interactive visualization of Kansas state tax collections has been updated through March and is available here.
All this stimulus money that is being thrown around will have to be dealt with down the road.
People always forget there is nothing like a “free hand out.”
Wait till the tax bills hit the fan.