This was passed a while back…but did you know about it?!
Small Business Rejoices At
Repeal of Investment Tax
Tell Us How It Will Help Your Business
Small businesses celebrated the repeal of the property tax on new capital investments in machinery and business equipment at a Kansas Chamber of Commerce sponsored ceremony where Gov. Kathleen Sebelius signed the new legislation into law.
The signing followed years of behind the scenes work by The Chamber which culminated in a bipartisan victory for Kansas small business in the 2006 legislative session.
What is Covered?
Beginning July 1, 2006, small business will no longer have to pay property taxes on newly made capital investments, reducing the prospect of applying for property tax exemptions. Covered investments include:
- Desks & chairs
- Fax machines
- Business machinery
- Equipment used in manufacturing operations
- Equipment used in warehousing
Another positive aspect of the legislation takes business personal property under $1,500 off the tax rolls, especially helpful for smaller businesses.
“This legislation is particularly helpful for employers who are capital intensive and for small businesses like machine shops and printers,” said Chamber CEO Lew Ebert