Schedule K-83 - Electric Cogeneration Facility Credit (Page 2 of 2) in pdf

INSTRUCTIONS FOR SCHEDULE K-83

GENERAL INFORMATION

LINE 7 – Credit limit on the total qualified investment. Add line

3 and line 6, and enter the result.

K.S.A. 79-32,245 provides a tax credit against the Kansas

LINE 8 – Authorized credit percentage. This credit may be claimed

income tax liability of a taxpayer who makes a qualified

in ten (10) equal annual installments.

investment in a new renewable electric cogeneration facility for

LINE 9 – Total credit allowed to be claimed this tax year. Multiply

tax years beginning after December 31, 2006 and before

line 7 by line 8.

January 1, 2012. The credit is 10% of the taxpayer’s qualified

investment on the first $50,000,000 invested, and 5% of the

LINE 10 – Partners, shareholders or members: Enter the

taxpayer’s qualified investment that exceeds $50,000,000. The

percentage that represents your proportionate share in the

credit will be taken in ten (10) equal, annual installments,

partnership, S corporation, LLC or LLP. All other taxpayers:

beginning with the year in which the taxpayer places into service

Enter 100%.

the new renewable electric cogeneration facility.

LINE 11 – Your share of the credit. Multiply line 9 by line 10.

Before making a qualified investment, a taxpayer shall apply

to the Kansas Secretary of Commerce to enter into an

PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR

agreement for a tax credit. After receipt of such application, the

secretary may enter into an agreement with the applicant for a

Indicate, by checking the appropriate box, which year of the

new renewable electric cogeneration facility credit if the

annual installments for which this credit is being claimed.

secretary determines that the taxpayer’s proposed investment

LINE 12 – Enter the amount from line 11 of Schedule K-83 from

satisfies the requirements.

the first year in which this credit was claimed.

If the credit allowed exceeds the investor’s tax liability in any

one taxable year, the amount of the credit that exceeds the tax

LINE 13 – Enter the amount of available carry forward credit from

liability may be carried forward until the total amount of the credit

the prior year’s Schedule K-83.

is used, except that no such tax credit shall be carried over for

LINE 14 – Add lines 12 and 13.

deduction after the 14th taxable year after the taxable year in

which the first annual installment is allowed.

LINE 15 – Enter your total Kansas tax liability for this tax year

after all credits other than this credit.

Expenditures used to qualify for this credit shall not be used

to qualify for any other type of Kansas income tax credit.

LINE 16 – Enter the lesser of lines 14 or 15. This is the amount

New renewable electric cogeneration facility means a

of credit allowed for this tax year. Enter this amount on the

renewable electric cogeneration facility which is located in this

appropriate line of Form K-40, Form K-41 or Form K-120.

state and construction of which begins after December 31, 2006.

If line 16 is less than line 14, complete PART C.

Qualified investment means expenditures made in

construction of a new renewable electric cogeneration facility,

PART C – COMPUTATION OF CARRY FORWARD CREDIT

for real and tangible personal property incorporated in and used

as part of such facility.

LINE 17 – Subtract line 16 from line 14. This is the amount of

Renewable electric cogeneration facility means a facility

credit to carry forward to next year’s Schedule K-83.

which generates electricity utilizing renewable energy resources

or technologies, as defined in K.S.A. 79-201, and amendments

IMPORTANT: Do not send any enclosures with this

thereto, and which is owned and operated by the owner of an

schedule. A copy of the approved authorization from the

industrial, commercial or agricultural process to generate

Kansas Secretary of Commerce must be kept with your

electricity for use in such process to displace current or provide

records. The Kansas Department of Revenue reserves the right

for future electricity use.

to request additional information as necessary.

SPECIFIC LINE INSTRUCTIONS

TAXPAYER ASSISTANCE

Enter all requested information at the top of this schedule.

Address questions about qualifying for this credit to:

PART A – COMPUTATION OF CREDIT

(To be completed only in the first year that this credit is claimed)

Kansas Department of Commerce

1000 SW Jackson, Suite 100

LINE 1 – Enter the total qualified investment up to and including

Topeka, KS 66612-1354

the first $50,000,000 in a new renewable electric

Phone: (785) 296-3481

cogeneration facility.

Web site:

LINE 2 – The credit is limited to 10% of the first $50,000,000 of

qualified investment.

For assistance in completing this schedule contact the

LINE 3 – Credit limit on the qualified investment for the first

Kansas Department of Revenue:

$50,000,000. Multiply line 1 by line 2.

LINE 4 – Enter the total qualified investment which exceeds the

Tax Operations

first $50,000,000 of investment made in a new renewable

Docking State Office Building, 1

Floor

electric cogeneration facility.

915 SW Harrison St.

Topeka, KS 66625-2007

LINE 5 – The credit is limited to 5% of the qualified investment

that exceeds $50,000,000.

Phone: (785) 368-8222

LINE 6 – Credit limit on the qualified investment that exceeds

Fax: (785) 291-3614

$50,000,000. Multiply line 4 by line 5.

Web site:

Schedule K-83 - Electric Cogeneration Facility Credit Page 2

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