KS
Kansas House Bill HB2107

Kansas 2023-2024 Regular Session

Kansas House Bill HB2107

Introduced
1/19/23  
Refer
1/19/23  

Caption

Increasing the income limit to qualify for the income tax subtraction modification for social security income.

Impact

The passage of HB2107 would significantly alter Kansas tax law concerning the treatment of Social Security income. The amendment is expected to directly affect many retired individuals whose income levels fall within the newly defined limits, providing them with greater disposable income. By broadening the eligibility for tax modifications, the state acknowledges the financial challenges faced by retirees, especially in a time of inflation and rising living costs.

Summary

House Bill 2107 aims to amend the Kansas income tax law, particularly in its approach to the taxation of Social Security income. The proposed legislation increases the income threshold at which taxpayers qualify for a subtraction modification, thereby exempting a more substantial portion of Social Security benefits from state income tax. This change is designed to relieve the tax burden on seniors and retirees, enhancing their financial security in retirement by allowing them to retain more of their income.

Contention

However, the bill has not been without controversy. Critics argue that while the intent to aid retirees is noble, such exemptions could reduce state revenue, impacting funding for public services. The discussions surrounding the bill reflect a broader concern regarding tax fairness and the balance between supporting the elderly and maintaining robust public funds that serve the entire community. Opponents may contend this bill perpetuates a system that favors specific demographics at the expense of others.

Companion Bills

No companion bills found.

Previously Filed As

KS SB56

Increasing the income limit for the income tax subtraction modification for social security income.

KS HB2109

Increasing the income limit for the income tax subtraction modification for social security income and providing that all social security benefits qualify for the subtraction modification commencing in tax year 2026.

KS HB2457

Providing an income tax rate of 4.95% for individuals and decreasing the normal tax for corporations, increasing the income limit for the income tax subtraction modification for social security income and providing that all social security income qualifies for the subtraction modification commencing in tax year 2026, increasing the Kansas standard deduction for individuals and further increasing the standard deduction by a cost-of-living adjustment, discontinuing the food sales tax credit, decreasing the privilege tax surtax, establishing a 0% state rate for sales and use taxes for food and food ingredients on July 1, 2023, and increasing the extent of property tax exemption for residential property from the statewide school levy.

KS SB52

Increasing the income limit for the exemption of social security benefits and exempting certain retirement plan income from Kansas income tax.

KS HB2837

Simplifying income tax rates for individuals, increasing the the Kansas personal exemption, increasing the income limit for an income tax subtraction modification for social security income, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the privilege tax normal tax rate and establishing a 0% state rate for sales and use taxes for sales of food and food ingredients on July 1, 2024.

KS HB2136

Providing an income tax subtraction modification for sales of property subject to eminent domain.

KS HB2610

Providing an income tax subtraction modification for sales of property subject to eminent domain.

KS SB169

House Substitute for SB 169 by Committee on Taxation - providing an income tax rate of 5.15% for individuals and decreasing the normal tax for corporations, increasing the income limit for the income tax subtraction modification for social security income, increasing the standard deduction by a cost-of-living adjustment, discontinuing the food sales tax credit, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on January 1, 2024, and increasing the extent of property tax exemption for residential property from the statewide school levy.

KS HB2189

Providing an income tax subtraction modification for sales or taking of property subject to eminent domain.

KS SB377

Substitute for SB 377 by Committee on Assessment and Taxation - Providing an income tax rate of 5.25% for individuals, increasing the income limit for the income tax subtraction modification for social security income, increasing the standard deduction by a cost-of-living adjustment, increasing the Kansas personal exemption, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on April 1, 2024, and increasing the extent of property tax exemption for residential property from the statewide school levy.

Similar Bills

KS SB126

Providing an individual income tax credit for certain residential solar and wind energy property expenditures, a subtraction modification to permit the carryforward of certain net operating losses for individuals and a subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowances.

KS HB2109

Increasing the income limit for the income tax subtraction modification for social security income and providing that all social security benefits qualify for the subtraction modification commencing in tax year 2026.

KS SB110

Exempting all social security benefits from Kansas income tax.

KS SB40

Permitting the carryforward of certain net operating losses for individuals for Kansas income tax purposes and excluding social security payments from household income and increasing the appraised value and household income thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead claims.

KS SB306

Including losses from investments in technology-enabled fiduciary financial institutions in Kansas adjusted gross income for income tax purposes.

KS SB56

Increasing the income limit for the income tax subtraction modification for social security income.

KS SB360

Allowing a taxpayer to elect the taxable year in which a subtraction modification for contributions to a 529 program account, ABLE account or first-time home buyer savings account would be applied and authorizing the state treasurer to appoint a 529 program advisory committee.

KS SB81

Providing a Kansas income tax subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowances.