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Minutes for SB303 - Committee on Taxation
Short Title
Expanding expense deduction to tax filers in addition to corporate filers.
Minutes Content for Thu, Mar 8, 2018
Mr. Wells provided an overview on SB303 noting it concerns the Kansas expensing deduction. Under current law the deduction is only available for taxpayers who pay the corporate income tax or the privileged tax in Kansas. The bill would allow, beginning in tax year 2017, for individual income tax filers to also claim the deduction. Mr. Wells suggested a technical amendment if the bill gets worked to allow a person who has already filed their 2017 return before this bill became law to go back and take the deduction. Mr. Wells stood for questions from the Committee.
Eric Stafford, Kansas Chamber testified as a proponent for SB303 (Attachment 25). Mr. Stafford stood for questions from the Committee.
Written testimony was submitted as a proponent for SB303 by the following:
Jason Parker, Olathe Chamber of Commerce (Attachment 26)
Alicia Holloway, President Wichita Independent Business Association (Attachment 27)
Tom Palace, Executive Director of Petroleum Marketers and Convenience Store Association of Kansas (Attachment 28)
Hearing closed for SB303.
