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EXEMPTIONS, FINANCING, INCENTIVES, TAXES & UNEMPLOYMENT


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The structure of Kansas’ financial incentives, tax levies and tax credits has been thoughtfully planned to be fair and favorable for your business. Our tax base ensures that no single industry is disproportionately burdened. Our incentives reflect an awareness of what it takes to attract and retain the companies that provide jobs for Kansans. Our state is constitutionally restrained from overspending, providing a foundation of fiscal integrity for our business climate.

Tax Reform Law

Kansas collapsed the three-bracket structure for individual state income taxes (3.5, 6.25 and 6.45 percent) into a two-bracket system. The new tax rates implemented FY 2013 through 2018 are shown below.

The reform also increased the standard deduction amount for single head-of-household filers from $4,500 to $5,500, and for married taxpayers filing jointly from $6,000 to $7,500.

There were a number of changes enacted to Kansas’ itemized deductions. The deduction for certain gambling losses was repealed after 2013. Most other itemized deductions (except the deduction for charitable contributions, which was fully retained) were reduced and then eliminated. Kansas itemized deductions consist only of charitable contributions, 50 percent of residential mortgage interest and 50 percent of property tax paid.

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Susan NeuPoth Cadoret Director, Business & Community Development Email (785) 296-7198 LinkedIn