Gov. Brownback Signs Pro-Business Tax Measures

KSCB News - May 27, 2011 8:13 am

Kansas Gov. Sam Brownback has signed two bills that rewrite state income tax laws to help businesses after they buy machinery.

The governor pushed the legislation to help stimulate the economy, and it’s a precursor to a larger discussion of tax policy next year.

Brownback signed the bills Thursday at a business in Kansas City, Kan.

One measure extends the period for using certain business tax credits from 10 years to 16 years. The other creates a new income tax deduction known – called expensing for qualified investments – that lets businesses reinvest up to $50 million a year.

The legislation also repeals or amends a number of state income tax credits and sales tax exemptions.

 

Latest Stories

Seward County Emergency Operations Center to Recommend a Modified Phased Reopening

Wednesday afternoon, the Unified Command of the Emergency Operations Center met to prepare recommendations for reopening....

COVID Numbers for Wednesday May 27

The latest statistics released by the KDHE, Seward County Health Department, and surrounding Counties for Wednesday...

Total Confirmed Cases in Texas County at 906 with 763 Recovered, 5 deaths

By Miranda Gilbert Emergency Management PIO Texas County officials confirmed 13 positive COVID-19 tests on Wednesday,...