Providing for the apportionment of business income by the single sales factor and the apportionment of financial institution income by the receipts factor, deductions from income when using the single sales factor and receipts factor, the decrease in corporate income tax rates determining when sales other than tangible personal property are made in the state and excluding sales of a unitary business group of electric and natural gas public utilities.

Summary

The measure would change Kansas' corporate tax formula, letting most multistate businesses use a single‑sales factor and banks use a receipts factor, and would lower the corporate income‑tax rate. It also defines when non‑tangible sales are considered Kansas sales and creates a multistate tax commission to oversee the compact. The bill never left the Senate committee.

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