Schedule K-39 - Credit For Plugging An Abandoned Oil Or Gas Well
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1
2K-39
–
KANSAS
CREDIT FOR PLUGGING AN ABANDONED OIL OR GAS WELL
(Rev. 8/11)
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)
PART A
ABANDONED OIL OR GAS WELL INFORMATION
2.
Is this well located on land owned by the above taxpayer?
1. API Number:
‰
‰
Yes
No If no, you do not qualify for the credit.
Location of Well:
3. Date drilling of this well began: ___ ___ / ___ ___ ___ ___
Month
Year
(If this date is after January 1, 1970, the well
does not qualify for the credit.)
PART B – PLUGGING COSTS
4. Enter the KCC plugging fee for this abandoned well (enclose a copy of the KCC invoice).
4.
______________
5. All other costs incurred this tax year to plug qualifying well(s).
5.
______________
6. Total plugging costs eligible for the credit (add lines 4 and 5).
6.
______________
50%
7. Credit percentage allowed.
7.
______________
8. Credit (multiply line 6 by line 7).
8.
______________
PART C – COMPUTATION OF THIS YEAR’S CREDIT
9. Amount of carry forward from prior year. E nter the amount from line 14 of the prior year’s
Schedule K-39. (Not applicable for first year credit is claimed.)
9.
______________
10. Enter the amount of any prior year’s credit in excess of statutory limitation.
10.
______________
11. Total credit available this tax year (add lines 8, 9, and 10).
11.
______________
12. Amount of your Kansas tax liability for this tax year after all credits other than this credit.
12.
______________
13. Credit this tax year (enter the lesser of lines 11 or 12 here and on the appropriate line of Form K-40,
13.
______________
Form K-120, or Form K-41).
If line 13 is less than line 11, complete PART D.
PART D – COMPUTATION OF CREDIT CARRY FORWARD
14. Subtract line 13 from line 11. This is the amount of credit to carry forward to next year’s return.
14.
______________
Enter this amount on line 9 of next year’s Schedule K-39.
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