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SB226: Allowing an itemized deduction for certain losses from wagering transactions for individuals for income tax purposes.
IntroducedSenate
Introduced
In Committee
Passed Chamber
Passed Both
Signed
Plain-Language Summary
This bill allows individuals to deduct certain losses from gambling transactions on their income taxes. This means that Kansans who gamble and lose money can subtract those losses from their taxable income.
Who This Affects
This affects Kansans who engage in gambling activities, such as playing the lottery or visiting casinos, and may result in lower tax bills for them.
Key Provisions
• Allows individuals to deduct certain losses from wagering transactions
• Applies only to individual taxpayers, not businesses
• Does not specify which types of gambling are eligible for deductions
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Timeline
Introduced
Wednesday, February 5, 2025
Last Action
Senate Hearing: Tuesday, March 4, 2025, 9:30 AM Room 548-S
Mar 3, 2025
Sponsors
No sponsors listed.
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