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Key Votes

HB 2762 - Income Tax Reduction - Kansas Key Vote

Dennis McKinney voted Yea (Passage) on this Legislation.

Read statements Dennis McKinney made in this general time period.

Timeline

Issues Related to HB 2762

Stage Details

Legislation - Bill Passed (House) (109-13) - (Key vote)
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Title: Income Tax Reduction

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that changes corporate income tax rates and expands the eligibility for business tax credits.

Highlights:
- Sets the income tax rate for corporations with an income over $50,000 at 2.85% for all tax years beginning in 2008 [Sec. 3(2)(B)(c)]. - Permits any taxpayer who makes a capital investment in a business in Kansas within three years of a disaster a credit of up to 10% but not exceeding $100,000 per investment against the income, premium and privilege tax in the state for tax years 2007-2010 [Sec. 8 (a)]. - Gives taxpayers the option to receive a refund of tax liability up to 50% of the credit earned for tax years 2007-2010 [Sec. 8 (b)(1)]. - Substitute offered by Committee on Taxation 3/11/08
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Legislation - Introduced (House) -

Title: Income Tax Reduction

Committee Sponsors

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