Post by Logan on Mar 17, 2016 4:56:30 GMT -6
Business lobbying groups defend 2012 income tax reductions
Conservative lobbyists told lawmakers anxious about state revenue shortfalls Wednesday not to give up on potential of the 2012 repeal of state income tax on Kansas business owners without taking action on spending cuts to match diminished revenue.
The House Taxation Committee completed a second day of testimony on House Bill 2444, which would put back on the books the controversial tax break handed to business owners in a sweeping overhaul that also reduced individual income tax rates.
The bill dictates $260 million raised annually by renewal of the business tax on 330,000 business owners would be devoted to reducing Kansas’ sales tax on food from 6.5 percent to 2.6 percent.
Debate on the legislation introduced by Rep. Mark Hutton, R-Wichita, occurred as the GOP-controlled Legislature and Gov. Sam Brownback struggled to close a deficit despite a record tax hike adopted in 2015.
Read more: cjonline.com/news/state/2016-03-16/business-lobbying-groups-defend-2012-income-tax-reductions
Conservative lobbyists told lawmakers anxious about state revenue shortfalls Wednesday not to give up on potential of the 2012 repeal of state income tax on Kansas business owners without taking action on spending cuts to match diminished revenue.
The House Taxation Committee completed a second day of testimony on House Bill 2444, which would put back on the books the controversial tax break handed to business owners in a sweeping overhaul that also reduced individual income tax rates.
The bill dictates $260 million raised annually by renewal of the business tax on 330,000 business owners would be devoted to reducing Kansas’ sales tax on food from 6.5 percent to 2.6 percent.
Debate on the legislation introduced by Rep. Mark Hutton, R-Wichita, occurred as the GOP-controlled Legislature and Gov. Sam Brownback struggled to close a deficit despite a record tax hike adopted in 2015.
Read more: cjonline.com/news/state/2016-03-16/business-lobbying-groups-defend-2012-income-tax-reductions