Updating references and corresponding changes related to 2021 Executive Reorganization Order No. 48 and the transfer of the division of tourism from the department of wildlife and parks to the department of commerce.
Providing for full transferability of tax credits for investments in certain qualified business facilities.
Allowing a taxpayer to elect the taxable year in which a subtraction modification for contributions to a qualified tuition program would be applied.
Extending the deadline for project agreements under the attracting powerful economic expansion act, enhancing incentives for qualified suppliers and adding a new employee relocation reimbursement incentive for qualified suppliers, limiting the corporate income tax rate reduction provision to two rate reductions and permitting qualified firms and qualified suppliers to participate in other economic development programs for new projects.
Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.
Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.
Providing sales tax exemptions for certain food and food ingredients and for the construction or repair of buildings used for human habitation by the Kansas state school for the blind and the Kansas state school for the deaf and repealing the state rate reduction for sales of certain food and food ingredients.
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.
Providing a $2,000 tax credit for qualified employees of licensed child care facilities.
Increasing the maximum amount of yearly income tax credits available for purchases under the disability employment act from qualified vendors, continuing in existence such credits beyond tax year 2023 of eligible purchases available for such credit and further defining qualifying vendors and employees eligible for the credit, establishing a grant program to facilitate transitions by employers to minimum wage employment for persons with disabilities and creating the Kansas sheltered workshop transition fund.