Schedule K-77 - Qualifying Pipeline Credit
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2K-77
KANSAS
QUALIFYING PIPELINE 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 in the year the new qualifying pipeline is 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 pipeline is placed into service. Multiply line 7 by line 8.
9.
________________
10. Proportionate share (see instructions).
10. ________________
11. Your share of the credit that may be claimed this tax year and in each of 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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‰
‰
‰
‰
‰
‰
‰
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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-77 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-77.
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-77. Subtract line 16 from line 14.
Enter this amount on line 13 of next year’s Schedule K-77.
17.
_________________
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