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Minutes for HB2368 - Committee on Taxation

Short Title

Allowing a deduction for business entities that create new jobs.

Minutes Content for Wed, Mar 15, 2017

Scott Wells, Assistant Revisor provided an overview on HB2368 noting the bill provides for a new deduction beginning in tax year 2017 for persons who have ownership and a pass-through entity.  The deduction would be in the amount equal to the percentage of actual wages paid by the business entity in the tax year to an employee hired to fill a new created job.   

Kathleen Smith the fiscal note on HB2368 is estimated to be $358,000 in fiscal year 2018.

Proponent:

Representative Schroeder, District 74 testified as a proponent for HB2368(Attachment 1)

Representative Schroeder stood for questions from the Committee.

Opponent:

Eric Stafford, Kansas Chamber testified as an opponent for HB2368.  No testimony submitted.

Mr. Stafford stood for questions from the Committee.

There be no other conferees, Chairperson Johnson closed the hearing on HB2368.

Meeting closed at 4:05 p.m.

Next meeting scheduled for March 16, 2017.