Title: Establishes Individual Tax Rate of 4.75%
Vote to pass a bill that establishes an individual tax rate of 4.75%.
Establishes an individual tax rate of 4.75% regardless of filing status for 2024 tax year and all tax years thereafter for all resident individual (Sec. 1).
Specifies the tax shall be in an amount equal to 4.75% of the Kansas taxable income that is in excess of (Sec. 1):
$10,450 for married individuals filing joint returns; and
$5,225 for all other individuals.
Title: Establishes Individual Tax Rate of 4.75%