KS HB2457 | 2023-2024 | Regular Session
Status
Spectrum: Committee Bill
Status: Introduced on March 13 2023 - 25% progression
Action: 2023-03-21 - House Hearing: Tuesday, March 21, 2023, 3:30 PM Room 346-S
Pending: House Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 13 2023 - 25% progression
Action: 2023-03-21 - House Hearing: Tuesday, March 21, 2023, 3:30 PM Room 346-S
Pending: House Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
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.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2023-03-21 | House | House Hearing: Tuesday, March 21, 2023, 3:30 PM Room 346-S |
2023-03-13 | House | House Referred to Committee on Taxation |
2023-03-13 | House | House Introduced |