Quick facts:
-The State of Kansas has a Corporate income tax rate as high as 7% and individual income tax rate as high as 5.70%. Read more below
The state of Kansas does have an individual income tax. Like most states with income tax, it is calculated on a marginal scale with multiple brackets (3). The tax rates range from between 3.10% to 5.70% for 2020. The highest bracket starts at $30,000.
The state of Kansas has a Corporate income tax that is based on a marginal scale with two (2) tax brackets –
Kansas recognizes Federal flow-thru entities, such as S Corporations, LLCs and Partnerships, and are therefore not subject to the corporate tax rate (however they are subject to the individual rate).
Like most states, Kansas has both a state and local sales tax. Its state sales tax is 6.50% and it’s local sales tax has an average rate of 2.18% (which puts the state average 8.68%). This put Kansas in the top ten highest combined sales tax rates in the country.
The average property tax rate for residential property in the state of Kansas is 1.33%, which is well above the national average of 1.05%.
Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three:
Kansas has average costs in regards to opening an LLC. Here are some important facts:
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