Thursday, May 24, 2012
Thumbs Up on Kansas Income Tax Cut
A big, pro-entrepreneur, pro-small business thumbs up to Kansas Governor Sam Brownback for signing and state legislators for passing an income tax cut that will reduce the state's income tax rate in 2013 from 6.45% to 4.9%. That reduction in the personal income and individual capital gains tax rates will make Kansas more competitive. For good measure, as The Wall Street Journal notes, the legislation "will eliminate income taxes on non-wage income for about 191,000 small businesses."