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What the new tax bill means for Kansas.

June 07, 2017 - 11:26 pm
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WICHITA, Kan. (KNSS) - A new tax increase is set to begin on July 1.  And business professionals are looking at what it will mean for the people of Kansas.

The bill is forecast to bring in $1.2 billion over the next two years

KSN News reports that personal tax rates are on the way up as well as the new tax that has been reinstated on businesses.

A single person making about $35,000 a year will pay $227 more in state taxes annually. A couple making $40,000 a year will pay about $215 more annually. And a couple making $80,000 a year will pay an extra $565 annually.

What new tax bill means for education funding

Lawmakers also factored in an increase of $300 million for schools in the next two years.  However, it's not known if it will be enough to satisfy the Kansas Supreme Court.

USD 259 is expected to receive about $25 million of the $300 million allotted.  School officials say that much of that money will go to 'catching up on costs,' and won't be immediately available for use with general funds.

The Kansas Supreme Court ruled that legislators find a constitutional amount of money to fund schools, but failed to give a precise number.

Until the court rules, districts are left unable to act on a budget.

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