Loading chat...
KS HB2642
Bill
Status
2/18/2026
Primary Sponsor
Taxation
Click for details
AI Summary
-
Amends K.S.A. 2025 Supp. 79-32,117 to remove the phrase "global intangible low-taxed" from the statute while retaining the 100% subtraction for income under section 951A of the federal internal revenue code for taxable years after December 31, 2020
-
Maintains all existing Kansas income tax addition and subtraction modifications, including treatment of state/municipal bond interest, federal retirement benefits, social security benefits, and various savings account contributions
-
Preserves the subtraction modification allowing taxpayers to deduct 100% of income under IRC section 951A (before section 250(a)(1)(B) deductions) from Kansas adjusted gross income
-
Takes effect upon publication in the Kansas statute book
Legislative Description
Removing obsolete reference to global intangible low-taxed income provided for under the federal internal revenue code in determining Kansas adjusted gross income.
Last Action
Senate Hearing: Friday, March 13, 2026, 9:30 AM Room 548-S
3/13/2026