Intangible tax

On the ballot for this year’s elections, Tuesday, Nov. 5, there will be a question on the ballot eliminating the tax on gross earnings derived from savings accounts, stocks and bonds (intangible tax). The intangible tax was created by the Kansas legislature in the early 1980 s as a way for cities and counties to reduce their reliance on property tax.

Jewell County along with the cities of Burr Oak, Esbon, Jewell, and Mankato along with 14 townships in Jewell all have an intangible tax of varying rates. All of the cities, including Mankato, have a rate of 2.25 percent.

The legislature created t...

 

Reader Comments(0)

 
 
Rendered 11/12/2024 15:15