Budget shortfall could impact local businesses

(KSNT Photo/Tracy Smith)

TOPEKA, Kan. (KSNT) –  Kansas lawmakers are talking about a bill for getting rid of the tax exemption for owners of LLCs or limited liability corporations.

This bill stems is seen as a way to reduce the $342,000,000 budget shortfall according to lawmakers. In 2012, Governor Sam Brownback made it so owners of LLCs don’t have to pay income tax.

This is something that could mean less money in the pocket of small business owners like Luis Munoz of Lupita’s in Topeka. That means they have to keep tabs on their budgets.

“You know I count the napkins and I count the straws especially right now, with the economy being the way it is, I’m double counting the straws double counting the napkins and only buying what is necessary,” Luis Munoz, the owner of Lupita’s said.

This has to pass the house tax committee before anything could happen. Then it would move to the house floor for a vote.

There was no talk as to when any action would be taken. The committee does have a meeting on Wednesday to discuss the budget situation further.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s