In our next installment of “As the World Turns to Kansas Tax Law Updates”... Alright, calling the passage of Senate Bill 30 a soap opera might be a little strong. Some might need a history lesson on how Kansas tax law changed with the 2012 legislature to fully understand the impact of the 2017 changes.
A legislative override of Governor Sam Brownback’s veto on Senate Bill 30 earlier this month brought new Kansas income tax rates for individuals. Under SB 30, changes go into effect July 1, 2017, but the new rates are retroactive to the beginning of the year. Since the last major tax overhaul in 2012, individual Kansans have lived in the land of two brackets. The most recent change revives the third bracket and increases overall tax rates.