Yesterday, we presented a review from Senator Caryn Tyson of the new Kansas Tax Bill and what it means for working families in Kansas. We had several people call or message us saying, hey, I’m single, fairly low income, what does the new tax bill do for me? We asked Senator Tyson and she provided an answer for a specific income level. She says that a person filing as single with an income of $25,000 in 2024, their personal exemption is $9,160 and if they take the standard deduction, it is 3,605 dollars. Add those two together and you get $12,765 . Subtract that amount from $25,000, you get $12,235 of income that is taxable under the new bill. Take that times the 5.2% tax rate and you have $636 in state taxes that you are responsible for. Tyson says before the tax cuts, it would have been $688, so not a large cut, but, it is a cut.
She adds that each person’s situation is going to be different, and if you have any questions about what your taxes are going to be under the new tax law, consult a tax expert, or, feel free to call the Kansas Department of Revenue and they can go over it with you.
