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Senate committee hears bill to restore deduction for wagering losses beginning 2025
Summary
Senate Bill 226, which would allow a Kansas itemized deduction for certain losses from wagering transactions beginning in tax year 2025, drew competing testimony during a hearing of the Kansas Senate Tax Committee.
Senate Bill 226, which would allow a Kansas itemized deduction for certain losses from wagering transactions beginning in tax year 2025, drew competing testimony during a hearing of the Kansas Senate Tax Committee.
Amelia (committee staff/reviser) told the committee the bill would amend "KSA 79 32 1 20 to allow losses from wagering transactions to the extent allowable pursuant to the federal internal revenue code as a Kansas itemized deduction for tax year 2025 and thereafter," and would take effect after publication in the statute book.
Supporters said the change restores a deduction Kansas had before 2012 and would make taxation of wagering more…
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