Questions and Answers

Identifying Information:Community Service Contribution Credit
Tax Type:Corporate Income Tax; Individual Income Tax; Privilege
Brief Description:Question and Answer relating to Community Service Contribution Credits
Keywords:
Approval Date:01/13/2000



Body:
Office of Policy & Research
Kansas Department of Revenue


Question and Answer
Community Service Contribution Credit

Question:
May a business, who has previously made a contribution to an approved community service organization and has remaining carryforward to be utilized, request a carryforward in tax year 1999 and forward or must the excess credit be refunded?


Answer:
For any taxable years commencing after December 31, 1997, any business firm which contributed to a community service organization and has excess carryforward to be claimed on the tax return in which the taxable year commenced after December 31, 1998, shall apply the applicable amount of tax credit against the tax liability, and any excess credit remaining shall be refunded.

For taxable years commencing on or before December 31, 1997, any business firm which contributed to a community service organization and has excess carryforward to be claimed on the tax return in which the taxable year commenced after December 31, 1998, shall apply the applicable amount of tax credit against the tax liability, and any excess credit remaining shall be carried forward to the next tax year.




Date Composed: 01/13/2000 Date Modified: 10/11/2001