Schedule K-36 - Telecommunications And Railroad Credit (Page 2 of 2) in pdf

INSTRUCTIONS FOR SCHEDULE K-36

timely paid in the tax year being reported. Column (d) is the date

GENERAL INFORMATION

the eligible property taxes were paid and should match the receipts

Telecommunications Credit

used to determine the amounts in Column (c).

K.S.A. 79-32,210 created an income tax credit for property

Partners, Members or Shareholders: If you are a partner,

taxes paid by telecommunication companies on property initially

member or shareholder in more than one enterprise qualifying for

acquired and first placed in service after January 1, 2001 that

this credit, complete a separate Schedule K-36 for each enterprise.

has an assessment rate of 33%. The credit will be equal to the

amount of property taxes timely paid for the difference between

PART C — COMPUTATION OF CREDIT

an assessment level of 25% and the actual assessment of 33%.

State assessed telecommunications companies are eligible

LINE 1—T

: Enter the “Total Tax Paid”

ELECOMMUNICATIONS COMPANIES

for this credit.

from column (c) of PART A. R

: Enter the “Total Tax

AILROADS

This is a refundable credit and therefore if the available credit

Paid” from column (c) of PART B.

exceeds the tax liability for the telecommunication company for

LINE 2—T

: If you are a partner,

ELECOMMUNICATIONS AND

AILROADS

any year all additional credit will be refunded to the

member, or shareholder in a partnership, LLP, LLC, or S

telecommunications company or all proper partners, owners or

corporation, enter the percentage that represents your

members of the partnership, S corporation, LLP or LLC.

proportionate share in the taxes shown in PART A or PART B.

If you are the sole owner of the property, enter 100%.

Railroad Credit

K.S.A. 79-32,206 provides a refundable tax credit against the

LINE 3—T

: Multiply line 1 by line

ELECOMMUNICATIONS AND

AILROADS

income tax liability of a taxpayer imposed under the Kansas

2 and enter the result. This is the total credit available this

income tax act in an amount equal to 25% of the property tax

tax year.

levied for property tax year 2007, and all subsequent years,

K-120 filers: Skip lines 4 through 6 and enter the amount

actually and timely paid during an income taxable year upon

from line 3 in Part I of Form K-120.

railroad machinery and equipment classified for property tax

purposes pursuant to section 1 of article 11 of the Kansas

LINE 4—T

: Enter your Kansas

ELECOMMUNICATIONS AND

AILROADS

constitution in subclass (3) of class 2.

tax liability after all credits other than this credit.

LINE 5—T

: Enter the lesser of

Required Information

ELECOMMUNICATIONS AND

AILROADS

lines 3 or 4. Enter this amount on the appropriate line of Form

Telecommunication companies will need a copy of Form

K-40 or Form K-41.

TC-100, and Railroads will need a copy of Form RC-100 issued

by the Division of Property Valuation within KDOR (Kansas

If line 5 is less than line 3, complete PART D.

Department of Revenue). Both Form TC-100 and Form RC-100

provide the amount of the tax credit available.

PART D — COMPUTATION OF REFUND

Forms TC-100 or RC-100, as applicable, may be needed for

two separate years as the credit is only available for property

LINE 6—Subtract line 5 from line 3. This is the excess credit to

taxes paid timely during the income tax year for which you are

be refunded to you. Enter this amount on the refundable tax

filing this credit schedule. Property taxes may be timely paid in

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

one income tax year for property assessed in two different years.

You will need a copy of the county tax receipt(s) showing timely

TAXPAYER ASSISTANCE

payment of the personal property tax. Do not enclose either the

tax receipts or Form TC-100 or RC-100. They may be requested

All inquiries regarding the content of either Form TC-100 or

by KDOR at a later date.

Form RC-100 will need to be made to:

State Assessed Bureau

SPECIFIC LINE INSTRUCTIONS

Property Valuation Division

PARTS A and B — SCHEDULE OF PROPERTY TAXES PAID

Docking State Office Building, 4

Floor

915 SW Harrison St.

PART A–SCHEDULE OF PROPERTY TAXES PAID BY A

Topeka, KS 66625-0001

TELECOMMUNICATIONS COMPANY: Use the information

provided on Form TC-100. Enter the PVD ID Number in column

Phone: 785-296-2365

(a), and the amount of credit available in column (b) for the

appropriate years. Column (c) is the portion of column (b) for

For assistance in completing this schedule contact the Kansas

each year that was actually and timely paid in the tax year being

Department of Revenue:

reported. Column (d) is the date the eligible property taxes were

Tax Operations

paid and should match the receipts used to determine the amounts

Docking State Office Building, 1st fl.

in Column (c).

915 SW Harrison St.

PART B–SCHEDULE OF PROPERTY TAXES PAID BY A

Topeka, KS 66625-2007

RAILROAD: Use the information provided on Form RC-100. Enter

Phone: (785) 368-8222

the PVD ID Number in column (a), and the amount of credit

Fax: (785) 291-3614

available in column (b) for the appropriate years. Column (c) is

Web site:

the portion of column (b) for each year that was actually and

Schedule K-36 - Telecommunications And Railroad Credit Page 2

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