Syndicated to Kansas newspapers Feb. 6, 2017
This may be the week when you grab your wallet—or maybe consider buying a smaller one—as the House but mostly the Senate start assembling their tax-increase bills to boost the state’s cashflow.
The House Tax Committee will start assembling its bill this week, but the Senate has one all glued together, ready for committee hearings this week and maybe debate in the full Senate by week’s end.
Nobody’s scrapping much about the provision which will tax the non-wage income of owners of those cute little LLCs that nobody knew anything about until they were declared income tax exempt in 2012. Key is that apparently most folks who actually pay Kansas income tax would like those LLCs and similar firms (farms, the self-employed and such) to chip in some tax money to the state.
But it’s the other taxes that are spine-tingling for some.