October 13, 2016
The Kansas Department of Revenue has published its annual report on tax revenue. The report contains data from 2013, the latest figures available, and shows the total tax revenue for the state dropped by about $700 million from fiscal years 2012 to 2013. 2013 was the first year that Kansas exempted most businesses from state income taxes in an effort to stimulate the economy. Former State Budget Director Duane Goossen now works for the Kansas Center for Economic Growth, a government watchdog group. Goossen says the report shows that the bulk of benefits from the income tax cuts went to a small number of wealthy individuals.
Goossen says about $400 million in tax breaks went to the 20,000 Kansas residents with an annual income level of $250,000 or more. The more than 500,000 Kansans who make $25,000 or less actually paid more in taxes after the 2013 income tax changes.
Read more from KPR News here.