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Kan. Panel Considers Eliminating Seldom-Used Income Tax Credits
Some of the programs aren't being used and are cluttering tax forms and record keeping.
Reporter: Associated Press Email Address: news@kake.com |
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Tuesday, February 9, 2010
A Kansas House committee is considering a proposal that would eliminate some seldom-used income tax credits.
The panel heard Tuesday from Revenue Secretary Joan Wagnon about several programs designed to encourage investment in Kansas. Wagnon says that some of the programs aren't being used and are cluttering tax forms and record keeping.
The House Taxation Committee heard that one program aimed at helping low-income Kansans purchase homes, get education or start a business is being used more than first thought.
Administrators of individual development account tax credits say they are seeing interest from investors and participants in the program, but the credits take time to be reported to the state.
The committee took no action on the proposal.
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