Schedule K-79 - Biomass-To-Energy Plant Credit
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2K-79
KANSAS
BIOMASS-TO-ENERGY PLANT 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)
PART A – COMPUTATION OF CREDIT
Complete PART A only in the year the new biomass-to-energy plant or the expansion of the capacity of an existing biomass-to-energy
plant has been placed into service.
1. Enter the total amount of the qualified investment. Do not enter more than $250,000,000.
1.
_______________
10%
2. Authorized credit percentage.
2.
_______________
3. Credit limit on the qualified investment of $250,000,000 or less. Multiply line 1 by line 2.
3.
_______________
4. Enter the total amount of the qualified investment that exceeds $250,000,000.
4.
_______________
5%
5. Authorized credit percentage.
5.
_______________
6. Credit limit on the qualified investment that exceeds $250,000,000. Multiply line 4 by line 5.
6.
_______________
7. Credit limit on the total qualified investment. Add line 3 and line 6.
7.
_______________
10%
8. Authorized credit percentage allowed to be claimed each tax year.
8.
_______________
9. Total credit allowed to be claimed in the year the biomass-to-energy plant is placed into service.
Multiply line 7 by line 8.
9.
_______________
10. Proportionate share percentage (see instructions).
10.
_______________
11. Your share of the credit that may be claimed this tax year and the next subsequent nine (9) tax years.
Multiply line 9 by line 10.
11.
_______________
PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR
Indicate which year of the ten (10) equal, annual installments for which this credit is being claimed:
‰
‰
‰
‰
‰
‰
‰
‰
‰
‰
1st year
2nd year
3rd year
4th year
5th year
6th year
7th year
8th year
9th year
10th year
If the credit is being claimed for the “carry-over” 11th, 12th, 13th or 14th tax years, skip line 12 and make an entry on line 13.
12. Enter the amount from line 11, Schedule K-79 from the first year in which this credit was claimed.
12.
________________
13. Enter the amount of available carry forward credit from the prior year’s Schedule K-79.
13.
________________
14. Total credit available this tax year. Add lines 12 and 13.
14.
________________
15. Amount of your Kansas tax liability for this tax year after all credits other than this credit.
15.
________________
16. Amount of credit allowable this tax year. Enter the lesser of lines 14 or 15.
Enter this amount on the appropriate line of Form K-40, Form K-41 or Form K-120.
16.
________________
If line 16 is less than line 14, complete PART C.
PART C – COMPUTATION OF CARRY FORWARD CREDIT
17. Amount of credit to carry forward to next year’s Schedule K-79. Subtract line 16 from line 14.
Enter this amount on line 13 of next year’s Schedule K-79.
17.
________________
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