Kansas Administrative Regulations

Regulation Number:92-12-16
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Income Tax
Tax Type:Individual Income Tax; Corporate Income Tax
Brief Description:Change of accounting period.
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92-12-16 Change of accounting period. Permission for change of a taxpayer's Kansas taxable year shall not be required from the director. In all cases a short period return shall be filed to accomplish this change. The Kansas taxable income for this short period shall be computed in the same manner as is the federal taxable income for this short period. For the purpose of the tax computation on a short period individual income tax return, only the taxable income for the short period shall be reported, but the tax exemptions and the Kansas standard deduction shall be apportioned by the same ratio as the number of months in the short period bears to twelve (12) months. (Authorized by K.S.A. 79-3236; implementing K.S.A. 79-32,114; effective Jan. 1, 1968; amended May 1, 1982.)