Form K-32 - Regional Foundation Contribution Credit

KANSAS

K-32

REGIONAL FOUNDATION CONTRIBUTION CREDIT

(Rev. 9/10)

For the taxable year beginning, _________________ , 20____ ; ending _________________ , 20____ .

Name of taxpayer (as shown on return)

Social Security Number or Employer ID Number (EIN)

If partner, shareholder or member, enter name of partnership, S corporation, LLC or LLP

Employer ID Number (EIN)

IMPORTANT: In order to receive this credit, each Regional Foundation must be approved by the Secretary of Commerce and

any contributors to a Regional Foundation must obtain an approved Tax Credit Application from the Regional Foundation.

Complete a separate Schedule K-32 for each regional foundation contributed to this taxable year.

Contributions were made to: ___________________________________________________________________________________

Regional Foundation Name

__________________________________________________________________________________________________________

Street, PO Box, or RR

City

State

Zip Code

Exact date and amount of contributions made this taxable year (if additional space is needed, enclose a separate sheet):

Date

Amount

Date

Amount

_____________________

______________________

_____________________

______________________

_____________________

______________________

_____________________

PART A – COMPUTATION OF CREDIT AVAILABLE FOR THIS YEAR’S CONTRIBUTION

1. Total contributions made to the approved regional foundation this tax year.

________________

2. Enter your proportionate share percentage. See instructions.

________________

3. Multiply line 1 by line 2. Enter this amount on the applicable line of your return for the required

addition modifications.

________________

75%

4. Authorized credit percentage.

________________

5. Your share of the credit for the contributions made this year. Multiply line 3 by line 4. Form K-120 and

K-130 filers STOP HERE and enter this amount on the appropriate line of your return. See instructions.

________________

PART B – COMPUTATION OF THIS YEAR’S CREDIT (K-40 and K-41 filers ONLY)

6. Amount of your Kansas tax liability for this tax year after all credits other than this credit.

________________

7. Amount of credit this tax year. Enter the lesser of line 5 or line 6. Also, enter this amount on the

appropriate line of Form K-40 or K-41.

________________

If line 7 is less than line 5, complete PART C.

PART C – COMPUTATION OF REFUNDABLE PORTION OF CREDIT (SEE INSTRUCTIONS)

8. Subtract line 7 from line 5. This is the excess credit to be refunded. Enter this amount on the line

provided on your return (Form K-40 or K-41) for the refundable portion of tax credits.

________________

Form K-32 - Regional Foundation Contribution Credit - Kansas

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