Sales tax gradually going away on groceries in Kansas
Good news for those buying employees food or snacks in Kansas: The governor has signed HB 2106, a bill designed to eliminate the state’s sales tax on groceries by 2025.
The sales tax will phase out in stages. It’ll decrease from the current level of 6.5% to 4% by Jan. 1, 2023. Then, in 2024, the tax will be 2%. Finally, the sales tax will be 0% in 2025.
Be aware: Not all sales tax is going away. Although the state sales tax is disappearing for groceries, localities in the state will still be allowed to tax groceries. Also, prepared meals will still be taxed, though items like fruit and baked goods are subject to the decrease.
Free Training & Resources
Further Reading
The outcome of the presidential race and which party will control the House and Senate is too close to call. But a handful of economic idea...
No matter where entrepreneurs decide to start a business, they face a variety of taxes and regulations that cut into the bottom line from t...
The IRS is extending an olive branch to businesses that received tax credits related to COVID-19 in error. The tax cops are launching a ...
The U.S. Supreme Court (SCOTUS) handed down enough precedent-breaking decisions this spring to make anyone’s head spin. The upshot: B...
Another April 15 came and went, leaving many of us poorer and grumbling about government spending. For business owners and the CFOs and con...
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of ...