Kansas Administrative Regulations

Regulation Number:92-12-121
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Income Tax
Tax Type:Corporate Income Tax; Individual Income Tax; Privilege
Brief Description:Incurred qualified expenditures.
Keywords:
Effective Date:03/24/2006


Body:

92-12-121. Incurred qualified expenditures. Before a qualified taxpayer may qualify for a credit allowed under K.S.A. 79-32,211, and amendments thereto, both of the following conditions shall have been met: (a) The qualified taxpayer has incurred “qualified expenditures,” as defined in K.S.A. 79-32,211(b) and amendments thereto, for the restoration and preservation of a qualified historic structure; and
(b) either the qualified expenditures have been paid in full or the qualified taxpayer has entered into a legal document that outlines the scope of the restoration and preservation work and identifies the date by which the qualified expenditures are to be paid in full by the qualified taxpayer. (Authorized by K.S.A. 2005 Supp. 75-5155; implementing K.S.A. 2005 Supp. 79-32,211; effective March 24, 2006.)