Kansas Administrative Regulations
KANSAS DEPARTMENT OF REVENUE
Corporate Income Tax; Individual Income Tax; Privilege
Tax credit agreement.
92-12-141. Tax credit agreement.
(a) The chief executive officer of each educational institution for which an allocation of tax credits has been authorized pursuant to K.S.A. 79-32,261, and amendments thereto, shall enter into an annual tax credit agreement with the secretary for
the educational institution’s allocation of tax credits. The tax credit agreement shall provide the following information:
(1) The name of the educational institution and, if applicable, the name of the educational institution’s endowment association or foundation;
(2) the amount of tax credits to be allocated to the institution in the calendar year;
(3) the time period during which donations may be accepted by the educational institution to qualify for tax credits; and
(4) any other relevant information that the secretary requires.
(b) A new tax credit agreement shall be entered into by the secretary with each educational institution for which an allocation of tax credits has been authorized pursuant to K.S.A. 79-32,261, and amendments thereto, at least two months before the beginning of each calendar year for which the tax credits are available. (Authorized by and implementing K.S.A. 2007 Supp. 79-32,261; effective June 20, 2008.)
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