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Presentation giving an overview of current tax policy and its effects on Kansas incomes, job growth and revenue, along with other revenue trends and economic activity in Kansas.

Presentation giving an overview of current tax policy, revenue trends, and economic activity in Kansas.

"This document provides a summary overview of some of the different taxes that the Department of Revenue collects from various individuals, businesses, and taxpayers."

Email sent to provide the additional information requested during the Nov. 5 meeting concerning "the amount of corporate income tax paid by the top 6 corporate income taxpayers."

Presentation containing "documents excerpted from the Department's FY 2014 Annual Report, 2013 Tax Expenditure Report, and KLRD Consensus Revenue Estimate Short Memo (Nov. 2015), and KLRD 2015 Kansas Legislator Briefing Book, provided as part of the briefing and explanation of the following taxes administered by the Department of Revenue: Individual income tax, Corporate income tax, Financial institution privilege tax, Cigarette tax, Tobacco products tax, Liquor taxes (gallonage, enforcement, drink), Mineral severance taxes."

Compares Connecticut's and Maryland's corporation business tax.

"As you know, the Governor and Legislature base budgets on the Consensus Revenue Estimates released in November and April each year. Here comparisons are based on April and November estimates/adjustments for FY 2014. FY 2015 is a new estimate."

Discusses business tax structure.

Compares Connecticut's corporation business tax structure compare with Delaware's.

"Recent legislative proposals have sought to reduce the corporate income tax (CIT) rate in Maryland. While these proposals have not passed, there remains considerable interest and debate on the fiscal and economic impacts of such a reduction. This report provides background information on Maryland's CIT, reviews methods of affording a CIT reduction, surveys avaliable economic literature for consensus findings, and conducts a comparative economic impact analysis of multiple policy alternatives using the Regional Economic Models, Inc. (REMI)"--Page 1.

"The unitary business concept provides an equitable way to apportion to Kansas for income tax purposes the business income of a multi-state business enterprise consisting of several entities, using the combined reporting method."

Information "on incentives and claw backs for businesses and corporations ... [and] on business taxes, especially penalties for errors in reporting charged to businesses versus actual taxes due."

Examines in detail the taxes paid by 280 of America's most profitable corporations from 2008-2010, especially highlighting those that pay little to no taxes and how current laws and regulations allow this to happen.

Discusses tax credits by purpose and summarizes them in tables for each group.

Compares the corporate income tax rate, revenue, and business tax burdens in Connecticut and other states. Also discusses how many corporations are headquartered in Connecticut, especially in Fairfield County, and how this compares to other states.

Discusses whether Connecticut can prevent Wal-Mart and other corporations from evading Connecticut corporation taxes by using so-called "captive" real estate investment trusts (REITs) as described in Wall Street Journal articles published in 2007

Discusses costs and effectiveness of the Connecticut Insurance Reinvestment Fund.

Provides a list of companies that have received investments under the Connecticut Insurance Reinvestment Act.

Discusses current issues facing the Connecticut Insurance Reinvestment Fund.

Discusses how many Connecticut businesses have more than 100 employees, and what types of businesses are subject to the corporate business tax.

Summarizes how the state corporation tax is calculated under the net income and capital base methods.

Proposes requirements for reporting information on businesses receiving economic development-related corporate business tax credits and a mechanism the legislature could use to periodically evaluate them. Also, Identifies a range of options that include obtaining information on each business claiming tax credits.

Discusses 1.) how the Urban and Industrial Sites Reinvestment Program compares with other similar economic development programs, 2.) the formula used to calculate the credit amounts under that program, 3.) whether projects funded with the tax credits must address smart growth goals, 4.) how Diageo North America, Inc. qualified for the credits, and 5.) how much the state has reimbursed Stamford over the last five years for economic development-related property tax abatements.

Describes what percentage of total state revenues is contributed by the corporation tax in Connecticut and the other states.

Discusses how Stanley Works' proposal to reincorporate outside the United States can legally reduce its U.S. taxes.

Discusses if a town could tacitly disqualify a business for a state-mandated property tax abatement by failing to apply for state reimbursement.

Describes a state tax credit program for employers who provide remedial education or literacy or English as a Second Language training for employees.

Since the early 1980s, responsibility for the provision of many goods and services has shifted from the federal government to state and local agencies. Accompanying this shift in responsibilities has been an increase in state and local taxes. These taxes grew much faster than personal income during the 1980s, and slightly faster during the 1990s. State and local governments have had to perform a difficult balancing act in order to meet revenue needs, preserve tax systems that are considered "fair" by the citizens, and maintain a business climate that is attractive, or at least not discouraging, to businesses. In many states (though not in Kansas), the pressure was relieved temporarily by budget surpluses of the late 1990s. But the underlying challenge remains, and the current economic slowdown has put most states under pressure again. The means by which state and local governments are meeting these challenges are the topic of this report.

Discusses how many corporations take advantage of tax credits the state offers corporations for developing day care facilities and what the obstacles are to wider use of the credit.