Kansas HB2336 amends the state's income tax law to change how business income is apportioned and to adjust corporate income tax rates.
Kansas HB2336 modifies the state's income tax law by changing the apportionment of business income. For tax years starting after December 31, 2007, and before January 1, 2028, businesses can choose to apportion their income using either the single sales factor or the receipts factor. After January 1, 2028, all business income must be apportioned using the receipts factor. The bill also provides for deductions related to changes in deferred tax liabilities and assets when using these apportionment methods.
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