Form K-121 - Kansas Combined Income Method Of Reporting printable pdf download

K-121

KANSAS

(Rev. 7/11)

COMBINED INCOME METHOD OF REPORTING

For the taxable year beginning ________________ 20____ , ending _____________________, 20____

Employer Identification Number (EIN)

Name As Shown on Form K-120

PART I

KANSAS COMBINED NET INCOME

Enter separate corporate names and federal

Corporation A

Corporation B

Eliminations

Combined Income

identification numbers

(Explain Below)

1. Federal taxable income ...................................................................

2. Total state and municipal interest ...................................................

3. Taxes on or measured by income or fees or payments in lieu of

income taxes ...................................................................................

4. Federal net operating loss deduction ............................................

5. Other additions to federal taxable income (Enclose schedule) ...

6. Total (Add lines 1 through 5) ..........................................................

7. Interest on U.S. government obligations ........................................

8. IRC Section 78 and 80% of foreign dividends (Enclose schedule)

9. Other subtractions from federal taxable income (Enclose schedule)

10. Total subtractions (Add lines 7, 8, & 9) .........................................

11. Net income before apportionment (Subtract line 10 from line 6) .

12. Nonbusiness income—Total company (Enclose schedule) .........

13. Apportionable business income (Subtract line 12 from line 11) ..

14. Percent to Kansas (From line 6, Part II) .........................................

15. Amount to Kansas (Line 14, Corp. A & B multiplied by line 13

combined income) ...........................................................................

16. Nonbusiness income—Kansas (Enclose schedule) ....................

17. Kansas net income (Add lines 15 & 16) ........................................

18. Kansas net operating loss deduction (Enclose schedule) ..........

19. Combined report income (Subtract line 18 from line 17, enter on

line 19, page 1, Form K-120) ..........................................................

20. Normal tax (4% of line 19) ..............................................................

21. Surtax (3% of amount on line 19 in excess of $50,000) ...............

22. Total tax (Add lines 20 & 21, enter on line 23, page 2, Form K-120)

EXPLANATION OF ELIMINATIONS:

ENCLOSE A COPY OF FEDERAL FORM 851 WITH THIS SCHEDULE

(Any corporation filing using the combined income method with more than one entity doing business in Kansas may

file one Kansas return reporting the total Kansas combined income and tax on that return.)

Page 18

Form K-121 - Kansas Combined Income Method Of Reporting

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