Kansas

'Resident trust' means a trust that: (1) Is administered in this state; (2) was created by or consists of property owned by a person domiciled in this state on the date the trust or portion of the trust became irrevocable; and (3) has at least one income beneficiary who, on the last day of the taxable year, was a resident of this state.

Gains from the sale or exchange of capital assets shall be excluded to the extent that such gains are allocated to corpus and are not (A) paid, credited, or required to be distributed to any beneficiary during the taxable year, or (B) paid, permanently set aside, or to be used for the purposes specified in section 642(c).

(1) In general In the case of a qualified trust, any distribution in any taxable year beginning after the date of the enactment of this subsection shall be computed without regard to any undistributed net income. (2) Qualified trust For purposes of this subsection, the term 'qualified trust' means any trust other than- (A) a foreign trust (or, except as provided in regulations, a domestic trust which at any time was a foreign trust), or (B) a trust created before March 1, 1984, unless it is established that the trust would not be aggregated with other trusts under section 643(f) if such section applied to such trust.

The Kansas Legislature has not enacted any estate tax provisions which apply to the estates of decedents dying after December 31, 2009. As a result, no tax is or will be due from these estates.

A tax is hereby imposed upon the Kansas taxable income of every resident individual... (1) Married individuals filing joint returns... (B) For tax year 2024, and all tax years thereafter: If the taxable income is: The tax is: Not over $46,000 5.2% of Kansas taxable income Over $46,000 $2,392 plus 5.58% of excess over $46,000

(1) In the case of married individuals filing a joint return, a personal exemption of $18,320; (2) in the case of all other individuals with a filing status of single, head of household or married filing separate, a personal exemption of $9,160;

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

Interest income less any related expenses directly incurred in the purchase of state or political subdivision obligations, to the extent that the same is not included in federal adjusted gross income, on obligations of any state or political subdivision thereof.

Interest income less any related expenses directly incurred in the purchase of state or political subdivision obligations, to the extent that the same is not included in federal adjusted gross income, on obligations of any state or political subdivision thereof.

The Kansas adjusted gross income of an individual means such individual's federal adjusted gross income for the taxable year, with the modifications specified in this section.

79-32,117. Kansas adjusted gross income of an individual; addition and subtraction modifications. (a) The Kansas adjusted gross income of an individual means such individual's federal adjusted gross income for the taxable year, with the modifications specified in this section.

Interest from the following are taxable to Kansas and may NOT be entered on this line: Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC).

A tax is hereby imposed upon the Kansas taxable income of every resident individual... (1) Married individuals filing joint returns... (B) For tax year 2024, and all tax years thereafter: If the taxable income is: The tax is: Not over $46,000 5.2% of Kansas taxable income Over $46,000 $2,392 plus 5.58% of excess over $46,000

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

A tax is hereby imposed upon the Kansas taxable income of every resident individual... (1) Married individuals filing joint returns... (B) For tax year 2024, and all tax years thereafter: If the taxable income is: The tax is: Not over $46,000 5.2% of Kansas taxable income Over $46,000 $2,392 plus 5.58% of excess over $46,000

(1) Married individuals filing joint returns... (B) For tax year 2024, and all tax years thereafter: If the taxable income is: The tax is: Not over $46,000 5.2% of Kansas taxable income Over $46,000 $2,392 plus 5.58% of excess over $46,000 ... (2) All other individuals... (B)... Not over $23,000 5.2% of Kansas taxable income Over $23,000 $1,196 plus 5.58% of excess over $23,000

NONRESIDENTS. If you are not a resident of Kansas but received income from Kansas sources, you must file a Kansas return regardless of the amount of income received from Kansas sources (see Kansas Source Income as provided in Schedule S Part B Instructions).