Interestingly, back in the late 80’s and early 90’s, I had some personal experience with LLCs. It was in that period that my former Secretary of Economic Development, Jamie Schwartz (lost my dear friend very recently), and I formed several LLCs for various economic pursuits with limited success. But they were easy and cheap to form. This helps explain why so many new LLCs have been organized in Kansas and why even more will be formed now that they can take advantage of the state income tax exemption.
The concept of the Consensus Estimating Group goes back many decades in Kansas and has provided stability and confidence in the estimation of future revenue for the state. It has taken the politics and uncertainty out of the process, allowing all policymakers, the Governor, and the Legislature to work with the same numbers. It is something about Kansas Government that we can all be very proud of. But, understandably, the period after a major tax change can be a challenging time to accurately predict revenue, as we have seen this past year.