Tax liability calculator now available
A calculator is now available to help Kansans estimate their increased income tax liability under the new tax law approved by the Kansas legislature.
The calculator is easily accessible by visiting the Department of Revenue website, www.ksrevenue.org. Users input their filing status, allowances and adjusted gross income. The calculator then displays what their tax liability was under the old law, what it is under the new law for tax year 2017, and the difference between the two.
“This calculator is a tool, and like all tools it should be used properly,” said Revenue Secretary Sam Williams. “It’s not for tax preparation, and because individual tax liabilities are so dependent on specific details, it’s more than likely it won’t predict the exact amount that will be owed. But it’s a valuable resource to gain an idea of the changes in tax liability.”
Kansans should speak with their tax preparer to identify exactly what they’ll owe under the new law.
The calculator will be updated in January 2018 to reflect the additional tax increase effective for tax year 2018.