State Tax Collections: T40 Individual Income Taxes for Kansas
QTAXT40QTAXCAT3KSNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,001.00
Year-over-Year Change
-2.25%
Date Range
1/1/1994 - 1/1/2025
Summary
This data series measures individual income tax collections in the state of Kansas. It provides a key indicator of state fiscal health and household economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Tax Collections: T40 Individual Income Taxes for Kansas series tracks quarterly data on personal income tax receipts collected by the Kansas Department of Revenue. This metric is widely used by economists and policymakers to assess the state's fiscal position and gauge trends in household incomes and consumer spending.
Methodology
The data is collected directly from tax records and filings by the Kansas Department of Revenue.
Historical Context
Changes in individual income tax collections reflect broader economic conditions and can inform state budgeting and fiscal policy decisions.
Key Facts
- Kansas relies on personal income taxes for over 45% of its total tax revenue.
- Individual income tax collections in Kansas peaked at $3.2 billion in Q4 2019.
- Tax receipts declined sharply in 2020 due to the COVID-19 recession.
FAQs
Q: What does this economic trend measure?
A: This data series tracks quarterly individual income tax collections for the state of Kansas. It provides a direct measure of personal tax liabilities and household incomes in the state.
Q: Why is this trend relevant for users or analysts?
A: Changes in individual income tax collections are a key indicator of the overall health of a state's economy and fiscal position. This data is closely watched by economists, policymakers, and investors to assess economic conditions and inform budgeting and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected directly from tax records and filings by the Kansas Department of Revenue.
Q: How is this trend used in economic policy?
A: Trends in individual income tax collections are used by state policymakers and budget officials to assess revenue forecasts, evaluate the impacts of tax policy changes, and make informed fiscal decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Kansas Department of Revenue, with a typical 2-3 month lag. There may be revisions to historical data as tax filings are finalized.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Kansas (QTAXT40QTAXCAT3KSNO), retrieved from FRED.