Kansas SB268 modifies Kansas adjusted gross income by clarifying business interest expenses and federal net operating loss carrybacks, and adjusts.

Kansas SB268 amends the calculation of Kansas adjusted gross income by clarifying modifications for certain business interest expenses and federal net operating loss carrybacks. It specifies that certain expenses and losses are to be added or subtracted from federal adjusted gross income to determine Kansas adjusted gross income. The bill also modifies rules for recapture of moneys from adoption savings accounts, imposing penalties for early withdrawals or improper use of funds. This act takes effect upon publication in the statute book.

Kansas SB268 modifies Kansas adjusted gross income by clarifying business interest expenses and federal net operating loss carrybacks, and adjusts.

Kansas SB268 amends the calculation of Kansas adjusted gross income by clarifying modifications for certain business interest expenses and federal net operating loss carrybacks. It specifies that certain expenses and losses are to be added or subtracted from federal adjusted gross income to determine Kansas adjusted gross income. The bill also modifies rules for recapture of moneys from adoption savings accounts, imposing penalties for early withdrawals or improper use of funds. This act takes effect upon publication in the statute book.