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What the Kansas tax hike means for taxpayers

Posted at 10:51 PM, Jun 06, 2017
and last updated 2017-06-06 23:52:22-04

Kansas taxpayers are about to pay up.

Late Tuesday night, the Republican-controlled legislature voted to override the veto of Republican Governor Sam Brownback.

The new law takes effect his year and imposes a three-bracket system in Kansas. Income tax rates will increase this year and then again in 2018.

 

 

 

The tax increase is expected to raise $1.2 billion over two years by increasing income tax rates and ending an exemption for 330,000-plus farmers and business owners.

The Governor championed that exemption, commonly called the LLC exemption, in 2012.