Schedule K-80 - Integrated Coal Gasification Power Plant Credit
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2K-80
KANSAS
INTEGRATED COAL GASIFICATION POWER PLANT CREDIT
(Rev. 9/10)
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 PARTA only in the year the new integrated coal gasification power plant or the expansion of an existing integrated coal gasification
power 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 integrated coal gasification 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, by checking the appropriate box, which year of the ten (10) equal, annual installments for which this credit is being claimed:
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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-80 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-80.
13.
_______________
14a. Total credit available this tax year. Add lines 12 and 13 and enter result: _______________.
Multiply the amount on 14a by 90% and enter the result on line 14b.
14b. _______________
15a. Amount of your Kansas t ax liability for this tax year to be applied against this credit: _____________.
Multiply the amount on line 15a by 90% and enter the result on line 15b.
15b. _______________
16. Amount of credit allowable this tax year. Enter the lesser of lines 14b or 15b.
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 14a, complete PART C.
PART C – COMPUTATION OF CARRY FORWARD CREDIT
17.
Amount of credit to carry forward to next year’s Schedule K-80. Subtract line 15a from line 14a.
Enter this amount on line 13 of next year’s Schedule K-80.
17.
_______________
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