Post by Logan on Apr 29, 2016 21:33:02 GMT -6
A bill to repeal an income tax exemption for 330,000 Kansas business owners went down to a fairly quick defeat Friday in the Kansas House.
After a 20-minute debate, 45 representatives voted “yes” to repeal the exemption while 74 voted “no.”
The tax exemption is part of Gov. Sam Brownback’s 2012 income tax cuts, the Republican governor’s signature tax policy that also slashed individual income tax rates.
The exemption for certain businesses such as limited liability companies has been a major target of critics, who said it was an unfair tax break and a big contributor to the state’s ongoing budget woes.
Read more here: www.kansascity.com/news/politics-government/article74778342.html
After a 20-minute debate, 45 representatives voted “yes” to repeal the exemption while 74 voted “no.”
The tax exemption is part of Gov. Sam Brownback’s 2012 income tax cuts, the Republican governor’s signature tax policy that also slashed individual income tax rates.
The exemption for certain businesses such as limited liability companies has been a major target of critics, who said it was an unfair tax break and a big contributor to the state’s ongoing budget woes.
Read more here: www.kansascity.com/news/politics-government/article74778342.html