Form K-121 - Kansas Combined Income Method Of Reporting
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2K-121
KANSAS
COMBINED INCOME METHOD OF REPORTING
(Rev. 8/13)
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
(Explain Below)
identification numbers
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 expensing recapture (see instructions for K-120EX) ....
18. Kansas expensing deduction (see instructions for K-120EX) ....
19. Kansas net income (add lines 15, 16 and 17; then subtract line 18)
20. Kansas net operating loss deduction (enclose schedule) ..........
21. Combined report income (subtract line 20 from line 19; enter
result here and on line 21, page 2, Form K-120) ..........................
22. Normal tax (4% of line 21) ..............................................................
23. Surtax (3% of amount on line 21 in excess of $50,000) .............
24. Total tax (add lines 22 and 23; enter result here and on line 25,
page 2 of 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.)
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