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Bill > SB556
KS SB556
Providing for a Kansas income tax subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowance.
summary
Introduced
03/09/2022
03/09/2022
In Committee
03/18/2022
03/18/2022
Crossed Over
Passed
Dead
05/23/2022
05/23/2022
Introduced Session
2021-2022 Regular Session
Bill Summary
AN ACT concerning income taxation; relating to Kansas adjusted gross income; providing for a subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowance; amending K.S.A. 2021 Supp. 79-32,117 and repealing the existing section. 7
AI Summary
This bill provides for a Kansas income tax subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowance. Specifically, it amends the state's laws around Kansas adjusted gross income to allow taxpayers to subtract from their federal adjusted gross income the amount of any federal work opportunity tax credit or employee retention credit disallowance claimed on their federal income tax return. This change is intended to provide tax relief for businesses and individuals who have claimed these federal tax credits.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Assessment and Taxation (S)
Last Action
Senate Died on General Orders (on 05/23/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://kslegislature.org/li/b2021_22/measures/sb556/ |
| Fiscal Note - Ficsal Note: As introduced | http://kslegislature.org/li/b2021_22/measures/documents/fisc_note_sb556_00_0000.pdf |
| Senate Committee on Assessment and Taxation Report | http://kslegislature.org/li/b2021_22/measures/documents/cr_2022_sb556_s_3783.pdf |
| BillText | http://kslegislature.org/li/b2021_22/measures/documents/sb556_01_0000.pdf |
| Analysis - Supplemental Note: As Amended by Senate Committee | http://kslegislature.org/li/b2021_22/measures/documents/supp_note_sb556_01_0000.pdf |
| BillText | http://kslegislature.org/li/b2021_22/measures/documents/sb556_00_0000.pdf |
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