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Sunday, September 26, 2021

Kansas Department Of Revenue Releases New Tax Withholding Tables

Withholding tables designating how much income employers should remove from employee paychecks to abide by the retroactive tax increase passed by the 2017 Kansas legislature are now available.

In order to make up for the increased tax liability almost every Kansan owes, KDOR utilized 2018 tax rates in the new withholding tables. This policy decision serves two purposes: to ensure that enough income is withheld from paychecks to catch up for the increased and backdated tax liability in the second half of the year, and also to provide certainty for Kansas employers.

Although the withholding tables are designed to adjust paychecks according to law, Secretary Williams recommends individuals talk to their tax preparer to ensure the amount withheld is sufficient to meet their increased tax liability.

The new tax law also places taxes on non-wage business income. Business owners should make estimated tax payments every quarter. The new tax law does not impose penalties or interest for underpayment on both individual and non-wage business income as long as it is paid in full by April 17, 2018. However, it is advisable business owners make the quarterly payments to avoid an enormous tax bill come April.

 

Derek Nesterhttps://sunflowerstateradio.com
Derek Nester was born and raised in Blue Rapids and graduated from Valley Heights High School in 2000. He attended Cowley College in Arkansas City and Johnson County Community College in Overland Park studying Journalism & Media Communications. In 2002 Derek joined Taylor Communications, Inc. in Salina, Kansas working in digital media for 550 AM KFRM and 100.9 FM KCLY. Following that stop, he joined Dierking Communications, Inc. stations KNDY AM & FM as a board operator and fill-in sports play-by-play announcer. Starting in 2005 Derek joined the Kansas City Chiefs Radio Network as a Studio Coordinator at 101 The Fox in Kansas City, a role he would serve for 15 years culminating in the Super Bowl LIV Championship game broadcast. In 2021 he moved to Audacy, formerly known as Entercom Communications, Inc. and 106.5 The Wolf and 610 Sports Radio, the new flagship stations of the Kansas City Chiefs Radio Network, the largest radio network in the NFL. Through all of this, Derek continues to serve as the Digital Media Director for Sunflower State Radio, the digital and social media operations of Dierking Communications, Inc. and the 6 radio stations it owns and operates across Kansas.

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