Archive for Wednesday, May 20, 2015

Kansas House panel working on plan to raise various taxes

May 20, 2015

— A Kansas House committee is working on a plan to raise the state's sales tax and boost income taxes for some business owners to help balance the state budget.

The Taxation Committee was convening Wednesday to consider revenue-raising proposals.

The state faces a projected budget shortfall of $406 million for the fiscal year beginning July 1 after lawmakers cut income taxes in 2012 and 2013 to stimulate the economy.

The plan before the House committee would raise the sales tax to 6.5 percent from 6.15 percent but drop the rate on food to 5.9 percent. It also would increase cigarette and gasoline taxes.

It also would raise $23 million during the next fiscal year by taxing some income earned by business owners that was exempted in 2012.

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