| RON THORNBURGH
Secretary of State
STATE OF KANSAS
Memorial Hall, 1st Floor
120 SW 10th Avenue
Topeka, KS 66612-1594
For Immediate Release
Wednesday, January 17, 2007
Stephanie Wing, Public Information Officer
Office of the Secretary of State
$4.6 MILLION SAVINGS FOR KANSAS BUSINESSES
TOPEKA , KS- Today, Kansas Secretary of State Ron Thornburgh testified before the House Taxation Committee urging members to eliminate the annual report fee.
Currently paid to the Secretary of State’s office, the annual report fee was created by the legislature in 2004, after the collection of franchise taxes was shifted to the Department of Revenue.
“The annual report fee is nothing more than a duplicate tax being levied against Kansas companies. We must do everything we can to create a more business-friendly environment in our state, and the elimination of this unnecessary fee is a step in that direction.” said Thornburgh.
The proposed amendment would do away with the $40.00 fee, which translates into a $4.6 million annual savings for Kansas businesses.