Does Kansas Have State Income Tax

Does Kansas Have State Income Tax?

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This blog is for informational purposes only and should not be considered legal or tax advice. You should contact professional tax and accounting advisors.

You've likely seen the phrase "income tax" on your paycheck before, but what does it really mean? As a resident of the Sunflower State, you can rest easy knowing that Kansas' state income tax policies are easy to understand. Landmark National Bank is here to explain that Kansas does have state income tax and provide valuable insights into how the important system functions.

What Is State Income Tax?

State income tax is a type of tax that individual states impose on the income of residents and others who earn income within the state. Income tax rates can vary significantly from state to state, with some states having no income tax at all and others with multiple brackets and rates.

Kansas uses a progressive tax system, meaning that as your income grows, the rate at which you're taxed increases. This is critical for funding state services and infrastructure, such as public schools, road repairs, health care, and other government-funded initiatives.

Kansas State Income Tax Policies

Your Kansas income tax rate varies based on your income level. For individual taxpayers, the income tax rate is 3.10% for the first $15,000 of income. Income from $15,001 to $30,000 is taxed at 5.25%, while income above $30,000 is taxed at 5.70%.

For married couples filing jointly, it's a bit different. The tax rates apply to income brackets that are roughly double those for individual filers. This means the first $30,000 of income is taxed at 3.10%, income from $30,001 to $60,000 is taxed at 5.25%, and income above $60,000 is taxed at 5.70%.

Whatever Kansas income tax rate and bracket applies to you can always change depending on legislation, so stay updated on any adjustments that could affect your obligations so you're prepared for tax season.

Who Is Required To File Taxes in Kansas?

Kansas residents with income exceeding the minimum filing threshold are generally required to file a state income tax return. This includes both full-year residents and part-year residents who lived in Kansas for part of the year. Non-residents who earn income from Kansas sources are also required to file if they meet income thresholds.

Individuals who are dependents on another person's tax return may also need to file in Kansas if their income exceeds a certain level. Additionally, Kansas residents who receive taxable income from out-of-state sources may be eligible for a credit to offset taxes paid to other states.

How Do Tax Deductions Work?

Tax deductions reduce the amount of taxable income, which can lower your overall tax liability. In Kansas, there are two types of deductions: the standard deduction everyone is entitled to, and itemized deductions. Common itemized deductions include:

• Mortgage interest
• Property taxes
• Charitable contributions
• Losses from disaster
• Money made selling your home

In 2023, the standard deduction was $3,500 for single filers, $8,000 for married couples filing jointly, and $6,000 for heads of household. If you believe you can itemize deductions worth more than that amount, you should consider this option.

What Is a Tax Exemption?

A tax exemption reduces taxable income based on specific qualifying criteria, such as the taxpayer's filing status or number of dependents. Exemptions can play a key role in decreasing your overall tax obligation. In Kansas, certain types of income may be tax-exempt, including Social Security benefits, retirement income, and disability benefits.

When To Expect Your Tax Return in Kansas

After filing, Kansas taxpayers typically receive their tax refunds within two to three weeks if they file electronically and request direct deposit. Paper filings may take longer, often up to four to six weeks. Filing early and double checking that your information is correct can help speed up the timeline.

You can track the status of your tax refund through the Kansas Department of Revenue's "Where's My Refund?"tool. This will help you make sure there are no issues with your information and save you the trouble of checking your mailbox every day.

Take Care of Your Finances With Landmark National Bank

Whether it's tax season or not, you deserve the best financial resources available to you. Landmark National Bank has more than 100 years of experience providing Kansans with secure banking services ranging from buying a hometo starting a businessand beyond. Best of all, we greet every customer with a smile and a commitment to top-notch customer service.

Contact Landmark National Bankor find a bank branch location near youto open an account or explore our loan options today!

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