Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

Statute Number:79-32,139
Chapter Title:TAXATION
Article Title:INCOME TAX
Tax Type:Individual Income Tax; Corporate Income Tax; Privilege
Brief Description:Taxation of subchapter S corporate income.


79-32,139. Taxation of subchapter S corporate income. A corporation having an election in effect under subchapter S of the internal revenue code shall not be subject to the Kansas income tax on corporations, and the shareholders of such corporation shall include in their taxable incomes their proportionate part of such corporation's federal taxable income, subject to the modifications as set forth in K.S.A. 79-32,117, and amendments thereto, in the same manner and to the same extent as provided by the internal revenue code.
History: L. 1967, ch. 497, 32; L. 1978, ch. 407, 15; L.1984, ch. 351, 20; July 1.

Date Composed: 04/04/2011 Date Modified: 04/04/2011