corporate income tax

401(K) 2012, flickr Creative Commons

Sixty-one percent of Kansans surveyed by Fort Hays State University want the new Legislature to close the LLC tax exemption.

Exempting 330,000 small businesses and farmers from state income tax has been the centerpiece of Gov. Sam Brownback’s economic plan.

But Rep. Russ Jennings, a Republican from Lakin, who says he’ll be running for speaker when lawmakers convene in January, says he’s for putting those businesses back on the tax rolls.

State Revenue Collections Exceed Estimates By $3M

Aug 1, 2013

Kansas officials say revenue collections beat estimates by more than $3 million dollars last month.

The Department of Revenue says July's figures were boosted by strong sales tax collections, which were $9.1 million higher than expected.

Individual income tax collections topped expectations by $3.4 million dollars.

But corporate income taxes came in $1 million dollars below the figure predicted by economists and researchers.