Chamber introduces flat tax bill buying down rates with excess revenue

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Photo credit: Chris Potter

The Kansas Chamber of Commerce has introduced a proposed flat tax that would collapse the state's three tax brackets for individuals into one and use excess revenues to lower income tax rates.

The chamber's bill calls for a 5% income tax rate for individuals while exempting $15,000 in income for individuals and $30,000 for married couples.

The bill would set a rate of 5% for corporations, which now pay 4% on net income plus 3% on net income exceeding $50,000.

It also . . .

SSJ

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