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OFFICIAL: Kansas falls short of revenue expectations by $19.4M in March

TOPEKA, Kan. (AP) – Kansas officials say the state’s revenue collections in March fell $19.4 million below expectations.

The Department of Revenue reported Thursday that March revenues totaled $380.2 million, about 5 percent below the official forecast. The shortfall occurred mostly in sales, use and individual income taxes.

But the shortfall was partly offset by stronger corporate income taxes and severance taxes on oil and gas production. Through the first nine months of the current budget year, total revenues are running nearly $26 million below what economists predicted and what the state needs to fund its operations through June 30.

Still, the revenue picture is somewhat better than at the same point a year ago. Officials say Kansas collected $361 million more through March 2011 than in the first nine months of the previous fiscal year.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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