Instructions For Schedule K-59 (Page 2 of 3) in pdf

2009 WORKSHEET FOR SCHEDULE K-59

A worksheet must be inculded with each Schedule K-59 submitted. The worksheet(s) may be mailed, faxed, or attached to your electronic return as a PDF file.

Name of Business: ___________________________________________________

EIN: ___ ___ ___ ___ ___ ___ ___ ___ ___

Name of Shareholder: ________________________________________ Shareholder SSN: ___ ___ ___ ___ ___ ___ ___ ___ ___

1. New credit prior to June 1, 2009. (See instructions) ....................................... 1 _________________

2. New credit after June 1, 2009. (See instuctions) ............................................. 2 _________________

3. Carry forward credit prior to June 1, 2009. (See instructions) ......................... 3 _________________

4. Carry forward credit after June 1, 2009. (See instructions) ............................. 4 _________________

5. Total credit prior to June 1, 2009. Add lines 1 and 3 and enter result ................ 5 _________________

6. Multiply line 5 by 90% and enter result .............................................................. 6 _________________

7. Total credit after June 1, 2009. Add lines 2 and 4 and enter result .................... 7 _________________

8. Multiply line 7 by 90% and enter result .............................................................. 8 _________________

9. Total credit for this year and prior year. Add lines 6 and 8. Enter result here and on line 13, Schedule K-59

10. Kansas tax liability for the current year. (See instructions) ................................. 10 ________________

11. Multiply line 10 by 90%. Enter result here and on line 14, Schedule K-59 ................................................

12. Credit used. Enter amount from line 9 or line 11, whichever is less. Enter on line 15, Schedule K-59 ......

13. Carry forward for 2010. Subtract line 10 from line 5 and enter the result. Enter on line 16, Schedule K-59

14. Carry forward for 2011. (See instructions) ..............................................................................................

INSTRUCTIONS FOR 2009 K-59 WORKSHEET

LINE 1 - New credit prior to June 1, 2009. Enter the amount of credit

tax liability to be applied against other credits. Example: If your tax

that is for investments placed into service in 2009 and the HPIP

liability is $1000 (before apply the 90% factor) and the amount

cetification letter was dated prior to June 1, 2009.

entered on line 10 is $400, then the amount of tax liability available

to apply to any other credit schedules would be $600. Enter amount

LINE 2 - New credit after June 1, 2009. Enter the amount of credit that

of your Kansas tax liability for this tax year to be applied against

is for investments placed into service in 2009 and the HPIP cetification

this credit on line 10 of the K-59 worksheet.

letter was dated after June 1, 2009.

LINE 11 - Multiply line 10 by 90%. Enter result here and on line 14 of

LINE 3 -Carry forward credit(s) prior to June 1, 2009. Enter the

Schedule K-59.

amount of available Carry forward Credit(s) earned prior to tax year

2009 as well as for credits earned and placed into service in 2009

LINE 12 - Credit Used. Enter amount from line 9 or line 11, whichever

for which the HPIP certification letter from the Deparment of

is less. Also enter this amount on line 15 of Schedule K-59.

Commerce was dated prior to June 1, 2009.

LINE 13 - Carry forward for 2010. Subtract line 10 from line 5. Enter

LINE 4 - Carry forward Credit(s) after June 1, 2009. Enter the amount

the result here and on line 16 of Schedule K-59. This amount

of available carry forward credit(s) that is for investments placed into

cannot be less than zero. This is the amount of credit to be

service with the HPIP certification letter from the Department of

carried forward.

Commerce, dated after June 1, 2009.

LINE 14 - Carry forward for 2011. (Reduction amount carried forward

LINE 5 - Total credit prior to June 1, 2009. Add lines 1 and 3; enter

to 2011.) For credits earned prior to June 1, 2009 as well as any

result.

carry forward from investment(s) that were placed in service in

2009 for which the certification letter from the Department of

LINE 6 - Multiply line 5 by 90% and enter the result.

Commerce was dated prior to June 1, 2009 and was reduced in tax

LINE 7 - Total credit after June 1, 2009. Add lines 2 and 4; enter result.

year 2009, the amount of this reduction to the HPIP credit(s) may be

LINE 8 - Multiply line 7 by 90% and enter the result.

carried forward to tax year 2011. If credit amount is not reduced in

LINE 9 - Total credit for this year and prior year. Add lines 6 and 8.

2009, there is no carry forward amount to tax year 2011 from tax

Enter the result here and on line 13 of Schedule K-59.

year 2009. Calculation: If line 5 of this worksheet is less than line

10, subtract line 6 from line 5. If line 5 is greater than line 10, then

LINE 10- Kansas tax liability for the current year. Enter the amount

subtract line 11 from line 10. Retain this amount for your records to

of your Kansas tax liability for this year to be applied against this

use on Schedule K-59 for tax year 2011.

credit on line 10. If you are filing more than one (1) credit schedule

Formula for 2011 carryforward:

this year, enter only the amount of tax liability you wish to apply to

this credit. The amount entered on line 10 (not 11) is the amount of

if ( 5 < 10 ) = 5 - 6 or

if ( 5 > 10 ) = 10 - 11

tax liability considered to be “used” when calculating the remaining

Instructions For Schedule K-59 Page 2

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