taxes

Stephen Koranda / KPR

Kansas lawmakers struggled over the weekend working late nights trying to craft a budget solution. Ultimately, they approved a plan in the early hours of Monday morning.

Stephen Koranda / KPR

Estimates for Kansas tax collections were ratcheted down sharply Wednesday. The state’s projected revenues dropped by a quarter billion dollars over the next year-and-a-half. That leaves Kansas with a budget deficit, and Republican Gov. Sam Brownback is proposing plans for erasing the shortfall.

Kansas will need to find $140 million in the current fiscal year to get out of the red. Next fiscal year, which starts in July, will need another $151 million in cuts or new revenue. Brownback’s budget director, Shawn Sullivan, laid out three options for filling the hole.

It's widely acknowledged that college graduates earn more than non-graduates, but given the ever-increasing cost of higher education, is it still worth the investment? Up To Date's Smart Money Experts weigh in. Also, an update on recent financial headlines. 

Guests:

When it comes to taxes, are we morally obligated to pay them to help our society? As presidential nominating conventions come up, is it ethical for a party to change the rules to block a candidate, even if he or she has a large majority of the popular vote? Up To Date's Ethics professors tackle these issues and more.

Guests:

  • Clancy Martin is a professor of philosophy at UMKC.
  • Adrian Switzer is an assistant professor in the Department of Philosophy at the UMKC.

Tax Waver

Apr 13, 2016

You've seen them on the sidewalk outside those tax places, waving to all who pass by. Meet the man behind the Statue of Liberty costume.

A study released last month by Wichita State University found that Kansas'  sales tax pushes shoppers across state and county lines in order to save money on food. Kansas is one of only 14 states that includes groceries in the state sales tax.

As legislators go back to work in Kansas this month, there’s one thing on everyone’s mind—the budget. Tax cuts have left the state scrambling to find enough money to cover its programs. We discuss that and how President Obama's statements on gun violence apply to Kansas on this edition of Up to Date.

Guests:

  • Sen. David Haley, a Democrat from Kansas City, Kan.
  • Rep. Stephanie Clayton, a Republican from Overland Park

Kansas collected $27 million less than expected in taxes last month, largely driven by sagging income and sales tax receipts. The drop is enough to erase the state’s small estimated savings account.

Kansas Secretary of Revenue Nick Jordan says it’s too early to tell if it’s a one-time drop in income taxes or a trend.

“It is the first time this fiscal year that individual income tax receipts have not grown compared to the prior fiscal year to date,” says Jordan.

Experts say financial planning is often key to financial success but one of the biggest challenges is finding the right person to manage your money. A panel of wealth management professionals offer advice on how to find someone who is competent, trustworthy, and interested in helping you achieve your financial goals.

Guests:

KHI News Service photo

The cigarette tax increase Kansas legislators approved in June to help close a budget gap has not dissuaded people from buying smokes in Kansas — at least not yet.

The state cigarette tax climbed from 79 cents per pack to $1.29 per pack on July 1, an increase of 63 percent. Tax revenue from cigarette sales for July 2015 was up 64 percent over July 2014, which means people purchased about the same amount of cigarettes in Kansas as they did before the tax hike, if the underlying cost of a pack of cigarettes stayed relatively close to last year’s price. (Data on the average price of a pack of cigarettes in Kansas last month is not yet available.)

That’s significant, because the prospect of higher taxes spurring Kansans to quit was used as an argument both for and against the tax hike.

Johnson County Commissioners will vote Thursday on a mill levy increase to pay for parks and libraries.

“Fully 50 percent plus of this entire property tax increase is going to improve services,” says County Manager Hannes Zacharias, adding those are the amenities besides a high-quality education that attract people to Johnson County.

The rest will offset a decrease in revenue collections, improve pay for sheriff’s deputies and fund capital improvements for county infrastructure.

Stephen Koranda / Kansas Public Radio

Gov. Sam Brownback’s budget director believes Kansas officials needs to study how they estimate future state tax collections. The comments were made just before new July revenue numbers came in below the mark.

Over the last year, Kansas tax collections have come up short of the estimates 10 times, and beat the estimates twice. Some of the misses were small, but four times over the last year the state’s monthly tax collections were at least $20 million below expectations.

Brownback’s budget director, Shawn Sullivan, helps create the estimates.

Lisa Rodriguez / KCUR

Some say that local government is the toughest branch, because it’s closest to the people.

For Mission, Kansas Mayor Steve Schowengerdt, it's easy.

“If you're honest and talk straight the people tell you what they want and what they don't like and you adjust,” he says.  

Schowengerdt stopped by KCUR studios to talk with Up To Date host Steve Kraske about the meatiest issues on Mission's table. 

Here are five questions Kraske asked the Mayor:

Lawmakers in the Kansas House were sharply divided over a tax bill debated Weednesday night. The measure seemed to be on its way to failure before the vote was paused at midnight by a legislative rule.

Republican Rep. Marvin Kleeb urged lawmakers to pass the bill, saying it was likely their last option to avoid cuts to state services like K-12 education. They’ve already approved a budget, but it needs around $400 million in new revenue to balance.

Sam Zeff / KCUR

While the broader battle over a tax plan in the Kansas Legislature continues, a few nights ago the Senate managed to slip in a last minute provision that makes it a lot easier to obtain tax credits for private and religious school scholarships in the state.

The mission of the legislation is laudable: provide scholarships to at-risk kids to go to private or parochial schools.

But there's a catch. People or corporations in the state receive a tax credit for providing the scholarship money. The state will allow up to $10 million a year in such credits.

The Kansas House decided not to take up a tax bill Monday that was sent to them by the state Senate. Lawmakers return for day 110 of the legislative session Tuesday and the only item left on their plate is balancing the budget.

Both chambers in the Kansas Legislature have now approved the budget, but the bill needs around $400 million in tax increases, or budget cuts, to be balanced. The Senate passed a tax plan on Sunday. But senators also added some policy changes, like a limit on property tax increases without a public vote and a proposal to eliminate some tax exemptions.

Stephen Koranda / Kansas Public Radio

Lawmakers are in the 105th day of the 2015 legislative session, making it the second longest session in Kansas state history. Legislators are looking for more than $400 million to close the state’s budget gap.

There was hope last weekend that the logjam could break when Gov. Sam Brownback introduced his tax plan. It relies mostly on sales taxes and tobacco taxes to generate revenue.

The bill mostly leaves business income tax cuts in place, because Brownback says they’re spurring economic growth.

You can’t avoid death and taxes, but you can -- and should -- plan for them. The financial planners return on Monday's Up to Date to discuss how you can do that successfully.

Guests:

Legislation designed to aid some delinquent taxpayers in Missouri is on its way to Gov. Jay Nixon's desk.

The House on Thursday overwhelmingly passed HB 384, the "tax amnesty" bill, which would allow people behind on their state income taxes to pay them off without additional penalties or interest.

Kansas Gov. Sam Brownback stuck by his aggressive tax policy during his State of the State address Thursday, outlining an ambitious list of legislative priorities for 2015.

But even members of the governor's own party say it's too early to tell what Brownback can accomplish during the session.

Eric Langhorst / Flickr Creative Commons

Throughout the year we put the Kansas City metro area under a microscope examining the details of the events and issues facing its residents and leaders.

On this edition of Up to Date, we zoom out for a broader view. Steve Kraske and three area journalists bring us their analysis, thoughts, and observations on what's working and what's not in Kansas City, Mo. 

Guests:

John Russell / Flickr-CC

Last week, Missouri voters solidly rejected Amendment 7, which would have increased the sales tax by three-quarters of a cent for 10 years to fund roads and bridges.

On Monday's Up to Date, we take a look at why voters reacted the way they did and what lawmakers might do to pay for those transportation items now.

Guest:

  • Rep. Dave Schatz, Chair of the Missouri House Transportation Committee
Theresa Thompson / Flickr-CC

On Thursday's Up to Date, guest host Brian Ellison covers primary ballot issues on both sides of the state line. In Kansas, KCUR has kept an eye on Milton Wolf and Sen. Pat Roberts as they battle to be the Republican nominee for the U.S.

401(K) 2012/Flickr-CC

Election season has kicked off, and we’re gearing up to a flurry of primaries throughout the area. Today, we’re taking a look at the ballots in Kansas City, Mo., and the state of Missouri.

On Monday's Up to Date, we discuss the streetcar proposal that’s found its way into the voting booth. Voters will decide whether they want to expand the taxing district east and south, and as a result, expand the proposed streetcar lines.

Kansas City, Mo., residents can expect to be asked to renew a sales tax in August. But meeting fire department needs may take more than that.

The quarter-cent sales tax created 14 years ago currently funds less than 14 percent of the fire department's $145 million budget. Personnel costs account for 90 percent of that budget.

City Finance Director Randall Landes says renewing the tax is essential, but even with the renewal the department won't be able to replace aging fire stations and equipment.

 

Unilever is adding 70 jobs and investing $99 million at its Independence food manufacturing plant.

About 190 employees currently work at the plant, which for years has made Wishbone salad dressing. The jobs are above average wage. the kind Independence Economic Development Council President Tom Lesnak says the city tries to attract. But those jobs have been in jeopardy for a couple of months now.

Gov. Jay Nixon is expected to veto the proposed Missouri income tax cut later today.

On April 23, Up to Date's Steve Kraske spoke with Amy Blouin, Executive Director of the Missouri Budget Project, who opposes the tax cut, and Patrick Ishmael, a policy analyst with the Show-Me Institute who supports the signing of the bill.

Marshall Griffin / St. Louis Public Radio

A proposed tax cut that conformed to conditions laid out by Governor Jay Nixon was radically altered Monday in an effort to move the overall proposal forward.

courtesy flickr user AgriLife Today / Creative Commons

Tax season is upon us, so it's time to rummage through those shoe boxes of old receipts, dig up W-2 forms and file your 2013 return.

The Cash Money Crew is here to guide you through the process, including changes to be aware of and tips for a smoother tax return season in 2014. Later, we discuss the changing realities of retirement and how to prepare for it.

Guests:

Legislation that would provide tax breaks for Boeing to build its 777X passenger jet in Missouri was passed Tuesday night by two legislative committees.

First, the Missouri Senate Committee on Economic Development passed their version of the bill, followed a few hours later by the House Economic Development Committee passing its version.  There are no major differences in the two – both would provide $150 million in incentives to Boeing to build the 777X at its campus near Lambert Airport. 

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