0430KSEconomyGrows1Qdbsr.cfm Malatya Haber Kansas' economy shows growth in the first quarter 2013
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Kansas' economy shows growth in the first quarter 2013

Kansans taxpayers not only have more money in their pockets from this year’s income tax rate reduction, but the state’s economic growth is offsetting the fiscal year 2013 impact of those cuts.

April’s revenue receipt collections, released April 30, showed individual income tax receipts had grown almost 6 percent from the prior fiscal year to date. Overall, the state collected $25 million more in individual income tax receipts in April 2013 versus April 2012.

Corporate income tax receipts for April 2013 are about 44 percent more than those for April 2012.

Overall, the state collected $41.7 million more in revenue receipts for April 2013 compared to April 2012.

“We’ve predicted that a fiscal environment where Kansans get to keep and invest more of their paycheck would bring economic growth to the state,” said Revenue Secretary Nick Jordan. “The first quarter of 2013 met those expectations.”

The Kansas Department of Revenue has also processed almost 40,000 more tax return payments this year than in 2012 and there is about one week of checks still left to process. That revenue will be included in May’s report. Tax balance due amounts are averaging 40 percent more than those filed in 2012.

Date: 5/20/2013

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