Kansas SB300 modifies business income apportionment for liquor manufacturers based on investor status and removes outdated federal tax references.

Kansas SB300 amends the apportionment of business income for manufacturers of alcoholic liquor, distinguishing between qualifying Kansas investors and general manufacturers. The bill also removes obsolete references to global intangible low-taxed income under the federal internal revenue code in determining Kansas adjusted gross income. This change ensures the state's tax code aligns with current federal tax laws and accurately reflects the economic contributions of different types of liquor manufacturers.

Kansas SB300 modifies business income apportionment for liquor manufacturers based on investor status and removes outdated federal tax references.

Kansas SB300 amends the apportionment of business income for manufacturers of alcoholic liquor, distinguishing between qualifying Kansas investors and general manufacturers. The bill also removes obsolete references to global intangible low-taxed income under the federal internal revenue code in determining Kansas adjusted gross income. This change ensures the state's tax code aligns with current federal tax laws and accurately reflects the economic contributions of different types of liquor manufacturers.