Notice

Notice Number:12-03
Tax Type:Corporate Income Tax
Brief Description:Certain Deductions Limited to Corporate Income Taxpayers
Keywords:
Approval Date:07/09/2012


Body:
KANSAS DEPARTMENT OF REVENUE
DIVISION OF TAXATION

Notice 12-03

Certain Deductions Limited to Corporate Income Taxpayers

During the 2012 Legislative Session House Bill 2117 was passed and signed into law. The Bill provides that, beginning in tax year 2013, certain deductions will only be available to corporations that are subject to the Kansas corporate income tax, i.e. C corporations.

Beginning in tax year 2013, the following deductions will not be available to individuals, S corporations, partnerships, limited liability companies, or other pass-through entities, and will be available only to C corporations:
For additional information regarding the effect of the new law on existing net operating losses held by individuals, please see Notice 12-08.

Taxpayer Assistance

Additional copies of this notice, forms or publications are available from our web site, www.ksrevenue.org. If you have questions about income tax, please contact:
Taxpayer Assistance Center
Kansas Department of Revenue
915 SW Harrison St., 1st Floor
Topeka, KS 66612-1588
Phone: 785-368-8222
Hearing Impaired TTY: 785-296-6461
Fax: 785-291-3614




Date Composed: 07/09/2012 Date Modified: 07/09/2012