Decreasing individual income tax rates, discontinuing tax credits of the high performance incentive program and the Kansas affordable housing tax credit act, discontinuing payroll withholding tax benefits of the promoting employment across Kansas act, discontinuing the crediting of certain amounts to the job creation program fund and repealing certain tax credits.
Senate Substitute for HB 2201 by Committee on Assessment and Taxation - Decreasing the corporate income tax rate and eliminating certain unused tax credits.
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.
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.
Eliminating certain tax credits, exemptions, incentives, refunds and limitations, a transitional adjustment, a checkoff and a restoration program administered by the secretary that have expired or are no longer applicable.
Senate Substitute for HB 2036 by Committee on Assessment and Taxation - Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and 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 July 1, 2024, and modifying the percent credited to the state highway fund, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund and providing for certain transfers to the state school district finance fund.
Simplifying income tax rates for individuals, increasing the standard deduction and the Kansas personal exemption, eliminating the income limit for the income tax subtraction modification exempting social security benefits, establishing a child tax credit, 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.
Limiting and discontinuing the Kansas affordable housing tax credit and expanding transferability of Kansas housing investor tax credits.
House Substitute for SB 37 by Committee on Financial Institutions and Pensions - Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and 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 July 1, 2024, and modifying the percent credited to the state highway fund, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund and providing for certain transfers to the state school district finance fund.
Providing an income tax rate of 5.25% for individuals, exempting all social security benefits from Kansas income tax, 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.