KDOR

TOPEKA–The tax economist for the Kansas Dept. of Revenue, Michael Austin, recently appeared on the Kansas City KCPT-TV PBS show “Ruckus” to discuss the $1.2 billion retroactive tax increase recently enacted by the Kansas legislature.

The new taxes, effective July 1, will be enacted over the next two fiscal years for Kansas taxpayers.

“I think the most important thing for Kansans to know, if they own a business, they will have to pay income tax on that business,” Austin pointed out.  “What’s been known as the LLC Loophole is going to be gone.”

The new  withholding tax tables were released this week by KDOR.