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KS SB283
Bill
Status
3/3/2025
Primary Sponsor
Assessment and Taxation
Click for details
AI Summary
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Individual income tax rates for income above $46,000 (married filing jointly) or $23,000 (others) decrease from 5.58% in 2024 to 5.53% in 2025, 5.45% in 2026, 5.35% in 2027, and a flat 5.2% rate for all income levels beginning in 2028
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High Performance Incentive Program (HPIP) tax credits for employee training investments are discontinued for tax years beginning January 1, 2026, with the $50,000 annual cap per corporate taxpayer ending
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Kansas Affordable Housing Tax Credit program is discontinued April 1, 2025, with no new allocations after March 31, 2025, though existing credits continue through their credit periods
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Promoting Employment Across Kansas (PEAK) payroll withholding tax benefits end July 1, 2025, with no new applications accepted after that date for businesses seeking to retain 95% of Kansas withholding taxes
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Seven additional tax credits are repealed effective January 1, 2026: abandoned well plugging, agritourism liability insurance, assistive technology contributions, declared disaster capital investment, environmental compliance, owners promoting employment across Kansas, and swine facility improvement
Legislative Description
Decreasing individual income tax rates, discontinuing tax credits of the high performance incentive program and the Kansas affordable housing tax credit act, discontinuing payroll withholding tax benefits of the promoting employment across Kansas act, discontinuing the crediting of certain amounts to the job creation program fund and repealing certain tax credits.
Last Action
Senate Hearing continuation: Thursday, March 6, 2025, 9:30 AM Room 548-S
3/6/2025