Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:79-32,155
Chapter Title:TAXATION
Article Title:INCOME TAX
Tax Type:Individual Income Tax; Corporate Income Tax; Privilege
Brief Description:Same; election to defer credit.
Keywords:


Body:

79-32,155. Same; election to defer credit. A taxpayer entitled to the credit allowed by K.S.A. 79-32,153, and amendments thereto, may elect to defer the commencement of the ten-year period during which such credit is allowed to any taxable year not later than the third taxable year following the taxable year in which commencement of commercial operations at the qualified business facility occurs. The taxpayer shall perfect such election by notifying the secretary of revenue, by a written statement attached to the return for the taxable year in which commencement of commercial operations at the qualified business facility occurs, of the intention to make such election. Once said election has been perfected, the credit shall be allowed for the taxable year specified in such election and for each of the nine succeeding taxable years.
History: L. 1976, ch. 431, 3;L. 1986, ch. 385, 3; July 1.


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

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