Schedule K-33 - Agritourism Liability Insurance Credit (Page 2 of 2) in pdf

INSTRUCTIONS FOR SCHEDULE K-33

GENERAL INFORMATION

LINE 6 – The maximum credit allowable for any tax year is

$2,000.

K.S.A. 74-50,173 provides for an income tax credit equal

LINE 7 – Enter the lesser of line 5 or line 6. This is the credit

to twenty percent (20%) of the cost of liability insurance paid

for this tax year.

by a registered agritourism operator who operates an

PART B – COMPUTATION OF THIS YEAR’S CREDIT

agritourism activity. The maximum credit allowed is $2,000

per tax year. An agritourism business MUST register with

LINE 8 – Partners, shareholders or members: Enter the

the Kansas Department of Commerce and receive a

percentage that represents your ownership in the

certificate of eligibility in order to claim this income tax credit.

partnership, S corporation, LLC or LLP. All other

Registered agritourism businesses who begin operating

taxpayers: Enter 100%.

on or after July 1, 2004 may claim this credit for the first five

LINE 9 – Multiply line 7 by line 8 and enter the result. This is

taxable years the agritourism business is open.

your share of the credit for this tax year.

If the credit exceeds the taxpayer’s income tax liability for

LINE 10 – Enter your Kansas tax liability for this tax year

the tax year, the excess credit may be carried forward to the

after all credits other than this credit.

next succeeding year or years until the total amount of tax

LINE 11 – Enter the lesser of line 9 or line 10. Enter amount

credit has been used, except that no credit may be carried

here and on the appropriate line of Form K-40,

over for deduction after the third taxable year succeeding

K-41 or K-120 (K-120 filers will enter this amount in Part

the taxable year in which the credit is earned.

I of Form K-120).

SPECIFIC LINE INSTRUCTIONS

If line 10 is LESS than line 9, complete Part C.

PART C – COMPUTATION OF EXCESS CREDIT CARRY FORWARD

The information at the top of this schedule must be

completed.

LINE 12 – Subtract line 11 from line 9. Do not enter an amount

less than zero. This is the carry forward credit available

An agritourism business must be registered with the

to enter on next year’s Schedule K-33.

Kansas Department of Commerce to be eligible for

this income tax credit.

IMPORTANT: Do not send enclosures with this credit

schedule. A copy of the certificate issued by the

PART A – COMPUTATION OF CREDIT AVAILABLE FOR

Kansas Department of Commerce must be kept with

THIS YEAR’S EXPENDITURES

your records. KDOR (Kansas Department of Revenue)

reserves the right to request additional information as

LINE 1 – Enter the total amount paid for liability insurance

necessary.

during this tax year as a direct expense of operating an

agritourism operation registered with the Kansas

TAXPAYER ASSISTANCE

Department of Commerce. Your insurance agent must

certify that the liability insurance meets the eligibility

For information and assistance regarding the establishment

criteria for claiming this credit as set out in Kansas

or operation of an agritourism activity contact:

Administrative Regulation 110-12-1 et seq., specifically

Kansas Department of Commerce

that the amount entered on line 1:

1000 SW Jackson, Suite 100

1) was paid during this tax year,

Topeka, KS 66612-1354

2) is limited to only the parcel(s) of real property

Phone: (785) 296-3737

employed in the agritourism operation,

3) is the cost of specific liability insurance for the

Web site: kansascommerce.com

agritourism operation that is in addition to existing

liability insurance coverage.

For assistance in completing this schedule contact the

LINE 2 – The credit amount is 20% of the cost of liability

Kansas Department of Revenue:

insurance paid by a registered agritourism operator

during the tax year.

Tax Operations

Docking State Office Building, 1st fl.

LINE 3 – Multiply line 1 by line 2, and enter the result. This is

915 SW Harrison St.

the credit available for this year’s expenditures.

Topeka, KS 66625-2007

LINE 4 – Enter the amount of any credit carry forward from

Phone: (785) 368-8222

a prior year’s Schedule K-33. (There will not be an entry

Fax: (785) 291-3614

on this line in the first year.)

Additional copies of this credit schedule and other tax forms

LINE 5 – Add line 3 and line 4. This is the total credit available

are available from our web site at:

for this tax year.

Schedule K-33 - Agritourism Liability Insurance Credit Page 2

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