Liberal, KS

Now: 61 °

Currently: Clouds

Hi: 97 ° | Lo: 61 °

Kansas Tax Cuts Take Effect this Week

KSCB News - January 2, 2013 5:56 am

TOPEKA, Kan. (AP) – The New Year has ushered in sweeping changes to the Kansas tax code.

The laws were approved by the Legislature in May and signed by GOP Governor Sam Brownback. The tax cuts and changes are part of the administration’s efforts to improve the state’s business climate.

The top individual income tax rate dropped to 4.9 percent from 6.45 percent. The owners of 191,000 businesses are now exempt from income taxes. The changes are expected to cost the state about $4.5 billion in lost revenue over the next six years.

Brownback hasn’t ruled out keeping the sales tax rate at 6.3 percent to help with budgeting. The rate was increased in 2010 and is scheduled to drop to 5.7 percent in July.

 

Latest Stories

Broadcast Square audio archives May 23 to 27, 2022

You can listen to archived Broadcast Square audio from the week of May 23 to 27,...

Montezuma Man injured in Motorcycle Accident in

A Montezuma man was injured in a deer/motorcycle accident Thursday afternoon at approximately 1:51pm in Chautauqua...

Carr Files to Run for County Commission District 3

Scott Carr (republican) has filed his intent to run for Seward County Commissioner, District 3. Filings...

 
KSCB Radio News