Kansas § 79-1107 National banking associations and state banks; tax imposed; rate of tax

Kansas Statutes

§ 79-1107 — National banking associations and state banks; tax imposed; rate of tax

Kansas § 79-1107

Ch. 79TAXATION

Art. 11BANKS, BANKING BUSINESSES, TRUST COMPANIES AND SAVINGS AND LOAN ASSOCIATIONS

This text of Kansas § 79-1107 (National banking associations and state banks; tax imposed; rate of tax) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 79-1107 (2026).

Text

(a)Every national banking association and state bank located or doing business within the state shall pay to the state for the privilege of doing business within the state a tax according to or measured by its net income for the next preceding taxable year to be computed as provided in this act. Such tax shall consist of a normal tax and a surtax and shall be computed as follows:

(1)For tax year 2024, and all tax years thereafter, the normal tax shall be an amount equal to 1.94% of such net income; and

(2)the surtax shall be an amount equal to 2.125% of such net income in excess of $25,000.

(b)The tax levied shall be in lieu of ad valorem taxes which might otherwise be imposed by the state or political subdivisions thereof upon shares of capital stock or the intangible assets of nation

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(a) Every national banking association and state bank located or doing business within the state shall pay to the state for the privilege of doing business within the state a tax according to or measured by its net income for the next preceding taxable year to be computed as provided in this act. Such tax shall consist of a normal tax and a surtax and shall be computed as follows:
(1) For tax year 2024, and all tax years thereafter, the normal tax shall be an amount equal to 1.94% of such net income; and
(2) the surtax shall be an amount equal to 2.125% of such net income in excess of $25,000.
(b) The tax levied shall be in lieu of ad valorem taxes which might otherwise be imposed by the state or political subdivisions thereof upon shares of capital stock or the intangible assets of national banking associations and state banks.

Legislative History

L. 1963, ch. 463, § 2; L. 1968, ch. 142, § 1; L. 1970, ch. 382, § 1; L. 1972, ch. 359, § 1; L. 1979, ch. 314, § 1; L. 1987, ch. 374, § 1; L. 1996, ch. 270, § 9; L. 1998, ch. 194, § 2; L. 2024, ch. 1, § 12 (Special Session); June 27.