Questions and Answers

Identifying Information:Questions and Answers Regarding HB2117 of the 2012 Legislative Session
Tax Type:Corporate Income Tax; Individual Income Tax
Brief Description:Questions and Answers Regarding HB2117 of the 2012 Legislative Session
Keywords:
Approval Date:10/19/2015



Body:


Questions and Answers
Regarding
HB2117 of the 2012 Legislative Session

(Updated 10/19/2015)



During the 2012 Legislative Session House Bill 2117 was passed and signed into law. This Bill contains a number of provisions (most of which become effective January 1, 2013) which affect Kansas income tax, including those provisions commonly referred to as the “business tax exemption”. Additional information about various provisions in the Bill can be found in a series of Notices and a Revenue Ruling which are available through the Department’s web site at www.ksrevenue.org

This Questions and Answers document addresses specific questions received to date. As additional questions arise this document may be expanded and updated.


Social Security
Net Operating Losses
Filing Requirements
Kansas Expensing
IRA Contributions
Guaranteed Payments by a Partnership
Section 1231 Losses
Income From a REIT
Income From a REMIC
Complex Non-Grantor Trust
Interest Earned in the Ordinary Course of a Trade or Business
For More Information

The Department has published a series of Notices and a Revenue Ruling regarding various aspects of 2012 HB 2117. These are available through our web site at: www.ksrevenue.org Please consult these resources for additional information.

If you have a specific question about the Department’s policies regarding the provisions of HB2117 you can contact the Office of Policy and Research for more information. Submit your question to:
Office of Policy and Research
Kansas Department of Revenue
2nd Floor
Docking State Office Building
915 SW Harrison
Topeka, KS 66612
785-296-3081



Date Composed: 09/19/2012 Date Modified: 11/14/2012