The Kansas Governor signed a law that includes: 1) repealing reference to global intangible low taxed income (GILTI) in the subtraction modification for certain internationally sourced income under I.R.C. Section 951A; and 2) requiring certain manufacturers of alcoholic liquor to utilize a single sales factor apportionment method for corporate income tax purposes to apportion business income to Kansas for tax years beginning on or after Jan. 1, 2027. The law takes effect after its publication in the statute book. [S.B. 300, enacted 04/27/26]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
