Nearby residents could subtract income from certain farm property transfers

The proposed rule would let an eligible taxpayer subtract certain payments from Kansas adjusted gross income. The taxpayer must live within 10 miles of property used as a farm or ranch. The property must be transferred to the Kansas Department of Transportation or a public utility. The payments must be included in the taxpayer's federal adjusted gross income. For a sale, the property must be sold to the Kansas Department of Transportation or a public utility, and the sale must otherwise be subject to a taking under the eminent domain law. The provision would apply to tax years beginning after December 31, 2020.