Instructions And Worksheet For Schedule K-59 - High Performance Incentive Program (Page 3 of 3) in pdf

2010 WORKSHEET FOR SCHEDULE K-59 (A separate worksheet is required for EACH HPIP location)

(a)

(b)

(c)

(a) X 90%

(a) minus (b)

1. Kansas Tax liability for the current year (see instructions).

2. Carry forward credit PRIOR TO June 1, 2009.

3. Carry forward credit ON OR AFTER June 1, 2009.

4. New credit PRIOR TO June 1, 2009 (see instructions).

5. New credit ON OR AFTER June 1, 2009 (see instructions). 5a

6. TOTAL CREDIT PRIOR TO JUNE 1, 2009.

Add lines 2a and 4a and enter result.

7. TOTAL CREDIT ON OR AFTER JUNE 1, 2009.

Add lines 3a and 5a and enter result

8. TOTAL HPIP CREDIT (for this year and prior years).

Add lines 6 and 7 and enter result.

9. Maximum amount credit that credit can be reduced. Enter line 1c or 8c, whichever is less .

10. Total credit available after maximum reduction. Subtract line 9 from 8a. Enter this amount here and on line 13,

Schedule K-59.

11. Credit used. Enter amount from line 1b or line 8b, whichever is less. Enter it also on line 15, Schedule K-59.

12. Carry forward . Subtract line 11, line 14, and the lesser of line 10 or (2c plus 4c) from line 8a. Enter result

here and on line 16 of Schedule K-59.

13. Carry forward for 2011. Enter Line 6c or line 10, whichever is less.

14. TOTAL CREDIT LOST. Enter Line 1c or line 7c, whichever is less.

NOTE: A separate worksheet is required for EACH HPIP location.

amount on line 5a by 90% and enter result on line 5b. Subtract amount on

line 5b from 5a and enter result on line 5c. Add lines 2b, 3b and 4b; if the

LINE 1- Kansas tax liability for the current year. Enter amount of your

total is larger than the amount on line 1b, enter “0” on lines 5b and 5c.

Kansas tax liability for this year to be applied against this credit on line

LINE 6 - Total credit prior to June 1, 2009. Add lines 2a and 4a; enter result

1a. If you are filing more than one (1) credit schedule this year, enter only

on line 6a. Add lines 2b and 4b; enter result on line 6b. Add lines 2c and 4c;

the amount of tax liability you wish to apply to this credit. The amount

enter result on 6c.

entered on line 1a (not 1b) is the amount of tax liability considered to be

“used” when calculating the remaining tax liability to be applied against

LINE 7 - Total credit on or after June 1, 2009. Add lines 3a and 5a; enter

other credits. Example: If your tax liability is $1000 (before appling the

result on line 7a. Multiply amount on line 7a by 90%; enter on line 7b. Add

90% factor) and the amount entered on line 1a is $400, then the amount

lines 3c and 5c; enter result on 7c.

of tax liability available to apply to any other credit schedules would be

LINE 8 - Total HPIPcredit for this year and prior year(s). Add lines 6a

$600. Enter amount of your Kansas tax liability for this tax year to be

and 7a; enter result on line 8a. Multiply line 8a by 90%; enter result on 8b.

applied against this credit on line 1a of this worksheet. Calculation:

Subtract line 8b from 8a; enter result on 8c.

Multiply line 1a by 90% and enter result on line 1b and on line 14 of Schedule

LINE 9 - Maximum amount that credit can be reduced. Enter amount

K-59. Subtract amount on 1b from 1a and enter result on line 1c.

from line 1c or 8c, whichever is less.

LINE 2 - Carry forward credit(s) prior to June 1, 2009. If your HPIP

LINE 10 - Total credit available. Subtract line 9 from 8a. Enter result on line

certification letter from Department of Commerce is dated prior to June

10 and line 13 of Schedule K-59.

1, 2009, enter on line 2a the amount of available carry forward credit(s)

LINE 11 - Credit Used. Enter amount from line 1b or line 8b, whichever is less.

earned before tax year 2009. Multiply the amount on line 2a by 90% and

Also enter this amount on line 15 of Schedule K-59. Only credits that are

enter result on line 2b; then subtract 2b from 2a and enter result on line 2c.

used this year are subject to this year’s “haircut” reduction to the credit(s).

If line 2a is zero, enter “0” on line 2b and 2c (cannot be less than zero).

The credit(s) that are not used will carry forward to tax year 2011.

LINE 3 - Carry forward Credit(s) on or after June 1, 2009. If your HPIP

LINE 12 - Carry forward. Calculation: Subtract line 11, line 14, and the

certification letter from Department of Commerce is dated on or after

lesser of line 10 or (2c plus 4c) from line 8a. Enter the result on line 12 and

June 1, 2009, enter on line 3a the amount of available carry forward credit(s)

on line 16 of Schedule K-59. This amount cannot be less than zero.

earned before tax year 2009. Multiply the amount on line 3a by 90% and

This is the amount of credit to be carried forward. (If no credit is used,

enter result on line 3b. If line 3a is zero, enter “0” on lines 3b and 3c. If line

100% of credit may be carryforward to 2011.)

2b is larger than 1b enter “0” on lines 3b and 3c; otherwise subtract amount

of line 3b from 3a and enter result on line 3c (cannot be less than zero).

LINE 13 - Carry forward for 2011. (Reduction amount for 2011.) For credits

earned prior to June 1 (certification letter from the Department of

LINE 4 - New credit prior to June 1, 2009. If your HPIP certification letter

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

is dated prior to June 1, 2009, enter on line 4a the amount of credit that

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

is for investments placed into service in 2009. Multiply amount on line 4a

forward to tax year 2011. If the tax liability is satisfied by older credit(s) and

by 90% and enter result on line 4b. Subtract 4b from 4a and enter result

no amount of a credit is required to be used to satisify the tax liability, then

on 4c. Add lines 2b and 3b; if the total is larger than the amount on 1b,

no reduction is required and 100% of that credit may be carry forward to

enter “0” on lines 4b and 4c.

the next tax year. Calculation: Enter line 6c or line 10, whichever is less.

LINE 5 - New credit on or after June 1, 2009. If your HPIP certification

Keep this amount with your records for use on your 2011 Schedule K-59.

letter is dated on or after June 1, 2009, enteron line 5a the amount of

credit that is for investments placed into service in 2009. Multiply the

LINE 14 - Total Credit Lost - Enter line 1c or 7c, whichever is less.

Instructions And Worksheet For Schedule K-59 - High Performance Incentive Program Page 3

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