Kansas Tax Law Changes
By: Jeremiah Cook
Updated: May 10, 2012
Thursday, the Kansas House of Representatives passed the proposed elimination of income taxes on some small businesses, like farms.
Cherokee county representative Doug Gatewood tells us this will leave the state with an estimated $857.9 million defect by the end of fiscal year 2014, because it will reduce state tax revenue from income and will try to make it up through higher sales and property taxes
Debate over the bill lasted throughout much of the day, with the final vote being 63 in favor, 55 against.
The measure now goes to governor Sam Brownback, who is expected to sign the tax cuts into law.
Cherokee county representative Doug Gatewood tells us this will leave the state with an estimated $857.9 million defect by the end of fiscal year 2014, because it will reduce state tax revenue from income and will try to make it up through higher sales and property taxes
Debate over the bill lasted throughout much of the day, with the final vote being 63 in favor, 55 against.
The measure now goes to governor Sam Brownback, who is expected to sign the tax cuts into law.
