Removes obsolete reference to global intangible low-taxed income in Kansas income tax code.
The bill removes the reference to global intangible low-taxed income (GILTI) under the federal internal revenue code from the Kansas adjusted gross income calculation. This change aligns the state tax code with the current federal tax law, ensuring that Kansas tax law does not include provisions that are no longer applicable under federal law. The bill amends the relevant section of the Kansas Statutes Annotated to reflect this update.
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