Schedule K-87 - Declared Disaster Capital Investment Credit printable pdf download

K-87

KANSAS

DECLARED DISASTER CAPITAL INVESTMENT CREDIT

(Rev. 9/11)

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)

Indicate which city (or within one mile thereof) the capital investment in a business was made:

‰

Chanute

Coffeyville

Erie

Fredonia

Greensburg

‰

Independence

Iola

Neodesha

Osawatomie

D D

__ __ - __ __ - __ __ __ __ __ - __ __ __ __ __

Enter your pre-approved Certificate Number:

PART A – COMPUTATION OF CREDIT (see instructions)

1. Amount of capital investment in a business which is located in the city of Chanute, Coffeyville, Erie,

Fredonia, Greensburg, Independence, Iola, Neodesha or Osawatomie, Kansas or within one mile

of the city limits of these cities.

________________

(Do not include investment for which you received, or will receive, assistance through the Southeast Kansas

Business Restoration Assistance Program or the Kiowa County Business Restoration Assistance Program.)

10%

2. Authorized credit percentage.

________________

3. Credit. Multiply line 1 by line 2. Do not enter more than $100,000.

________________

4. Amount of pre-approved credit. (This is the amount approved by KDOR - line 4 minus line 7 from

previous year’s credit schedule with the same pre-approved Certificate Number as entered above).

________________

5. Available credit. Enter the lesser of lines 3 or 4.

________________

6. Your proportionate share percentage (see instructions).

________________

7. Your share of the credit for the capital investments made this year. Multiply line 5 by line 6. If you

are electing to use the refund option, skip Part B (lines 8 thru 11) and proceed to Part C.

________________

PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR (see instructions)

8. Prior year’s carry forward. Enter the amount of available carry forward from the prior year’s

Schedule K-87. (Make no entry for tax year 2008.)

________________

9. Total credit available this tax year. Add lines 7 and 8.

________________

10. Enter your total Kansas tax liability for this tax year after all credits other than this credit.

10.

________________

11. Amount of credit this tax year. Enter the lesser of line 9 or line 10 here and on the appropriate

nonrefundable credit line of Form K-40, K-41, K-120 or K-130. Skip Part C (lines 12 through 14)

11.

________________

and proceed to line 15.

PART C – COMPUTATION FOR REFUNDABLE PORTION OF CREDIT (see instructions)

12. Your share of the credit for the capital investments (Enter the amount from line 9 above).

12.

________________

50%

13. Authorized refundable credit percentage.

13.

________________

14. Amount of credit to be refunded. Multiply line 12 by line 13 and enter the result here and on the

appropriate refundable tax credit line of Form K-40, K-41, K-120, or K-130. K-40 or K-41 filers:

Apply this credit to the tax liability first. Enter the excess credit on the refundable line of the return.

14.

________________

PART D – COMPUTATION OF CREDIT CARRY FORWARD (see instructions)

15.

Amount of excess credit available to carry forward to next year’s return. Subtract line 11 from line 9

and enter the result here and on line 8 of next year’s Schedule K-87.

15.

________________

Schedule K-87 - Declared Disaster Capital Investment Credit

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