POPULATION: 2,900,000
LABOR FORCE: 1,496,000
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES:Aviation, agriculture/food processing, printing and publishing, fabricated metal products, equipment and machinery, oil and gas
EXPANDING INDUSTRIES: Professional services, oil and gas, bioscience, logistics/ distribution, customer service centers, food manufacturing, back office, alternative energy, general manufacturing
COLLEGE GRADUATES: (Age 25 and over) 30.1%
BASIC BUSINESS TAXES:
Corporate Income Tax: 4 percent of net income; in addition, net income in excess of $50,000 is subject to a 3 percent surtax for 2011 and thereafter. Effective tax year 2013, the non-wage business income for subchapter S corporations, limited liability corporations, limited liability partnerships, and sole proprietorships will be exempt from income tax in Kansas. Individual income tax rates are reduced as well to 4.8% as the top rate. The individual income tax rates will continue to fall through 2018 with the top rate being reduced to 3.9%.
Sales and Use Tax: 6.15 percent state rate on gross receipts from sales or leases of tangible personal property and certain services; cities and counties may collect an additional maximum of 1 percent.
Property Tax: Commercial and industrial machinery and equipment are exempt from property tax by state law; for real property, counties assess and administer the property tax; each taxing district makes its own levy within the limits set by state statute; residential property is taxed at 11.5 percent of fair market value and commercial and industrial property is taxed at 25 percent.
BUSINESS INCENTIVES:
Personal property tax exemption on commercial machinery and equipment
Inventory tax exemption
Industrial revenue bonds
Sales tax exemptions for construction, remodel, equipment, component parts, and items consumed in production
High Performance Incentive Program (Investment Tax Credit)
Promoting Employment Across Kansas (financing via withholding tax retention)
Work force training programs
Financing programs
Research and development tax credit
Rural Opportunity Zones
Community Development Block Grants
Machinery and equipment expensing deduction
