Tag: Income Tax

The Kansas Legislature approved a new $1.57 billion tax plan after rejecting an earlier version proposed by the governor. The plan aims to reduce property, sales, and income taxes, utilizing a $4 billion revenue surplus. It includes changes to income tax brackets and deductions, as well as alterations to property tax and school funding.

The Kansas House sent a $1.4 billion tax cut back for negotiation, defying the governor and House Speaker. Senate approved the bill, featuring income, property, and sales tax cuts. The compromise aims to benefit various constituencies. The Kansas tax debate focused on resolving differences and leveraging a $4 billion surplus. Both sides compromised for the best outcome.

The Kansas Legislature is working on tax relief plans using the state's significant revenue surplus. Negotiators are aiming to pass a tax overhaul bill and additional bills with smaller tax changes. With all seats up for election soon, reaching a consensus before the legislative session ends is crucial. Governor Kelly has proposed a bipartisan plan for sustainable tax relief. Both the House and Senate have approved comprehensive tax bills, but differences remain over the details. Discussions are ongoing, and some contentious issues, such as the flat tax, have been set aside for now. The Legislature is working towards reaching an agreement before the session ends.

by Tim Carpenter, Kansas Reflector July 20, 2022 TOPEKA — The Kansas Legislature’s auditing agency reported Wednesday the state was losing income tax revenue owed...