Kansas Administrative Regulations

Regulation Number:92-11-22
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Withholding and Estimated Tax
Tax Type:Withholding and Declaration of Estimated Tax
Brief Description:Credit.
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Body:

92-11-22 Credit. (a) General. The amount of estimated tax paid by the taxpayer during the calendar or fiscal year shall be allowed as a credit on the return filed by the taxpayer under the provisions of the Kansas income tax act.
(b) Credit or refund. In the event that the amount of declaration of estimated tax and/or the amount of tax withheld from wages exceeds the amount of tax due under the provisions of the Kansas income tax act, the taxpayer has the following options:
(1) To request a refund of such overpayment or overwithholding or
(2) To apply the amount of such overpayment or overwithholding to the declaration of estimated tax for the succeeding calendar or fiscal year.
(c) Adjustment of credit prohibited. In the event that the overpayment or overwithholding is credited to the declaration of estimated tax liability for the succeeding calendar or fiscal year and the taxpayer's income tax liability for the fiscal or calendar year is adjusted to reflect additional tax due, the amount of credit to the succeeding tax year's estimate will not be adjusted. In such cases the taxpayer will be billed for any increase and will be required to pay the deficiency pursuant to the provisions of the Kansas income tax act. (Authorized by K.S.A. 79-3236, K.S.A. 1965 Supp. 79-
3294; effective Jan. 1, 1966.)