Fillable Form 200 - Local Intangibles Tax Return

INSTRUCTIONS FOR 2012 LOCAL INTANGIBLES TAX RETURN

The intangibles tax is a local tax levied on gross earnings received from

location. Enter all interest received or credited to your account from funds left

on deposit with insurance companies. Any interest received from the federal

intangible property such as savings accounts, stocks, bonds, accounts

government is non-taxable and should not be reported on line 4.

receivable, and mortgages. It is not to be confused with the state income

tax which is used to support state government.

If you incurred a penalty for early withdrawal of funds, report only the

amount of interest actually received from each account. If the penalty incurred

WHO MUST FILE INTANGIBLES TAX. All Kansas residents and

is greater than the amount of interest, the excess penalty cannot be used to

corporations owning taxable property and every nonresident owning accounts

reduce income from other sources.

receivable or other intangible property with a Kansas business situs, receiving

LINE 5: Enter all dividends or other income received or credited to your

earnings from this property during the calendar year or fiscal year ending in

account from corporation stocks, regardless of where the corporation is located.

2011, must file a Form 200. If you live in an area that has no intangibles

Do not report dividends from insurance policies or patronage dividends for co-

tax, or your tax due is less than $5, you do not have to file a Form 200.

ops based on business done with the co-ops. Also enter all investment income

Individuals or corporations having intangible earnings shall be deemed

received from mutual funds and trust companies. Do not report capital gains.

to have received these earnings at the individual’s dwelling or the

LINE 6: Enter all interest, discount interest, or other earnings received

corporation’s principal business office, within the State of Kansas. The

from notes receivable, unless the notes are secured by a Kansas mortgage

earnings are then subject to intangibles tax if the individual’s dwelling or the

on which a mortgage registration fee has been paid. Do not report the

corporation’s principal office is within a jurisdiction which has imposed the

principal from notes or loans.

local intangibles tax. Parents of minors owning intangible property,

conservators, trustees, beneficiaries of trusts, executors, administrators,

LINE 7: Enter all interest or other income received from notes or accounts

receivers, and certain agents are required to file a Form 200. Senior citizens

which are secured by conditional sales contracts or chattel mortgages.

or disabled persons are also required to file a Form 200, but may be entitled

LINE 8: Enter interest or discount income received from bonds and

to a special senior citizen or disability exemption, explained in Part II.

debentures. Income from bonds issued by states or their political subdivisions

EXEMPT INTANGIBLES INCOME. Intangibles tax does not apply to:

other than Kansas are subject to tax.

interest on notes secured by Kansas real estate mortgages on which a

LINE 9: Enter all interest, carrying charges, or other earnings from

registration fee has been paid; earnings on individual retirement and Keogh

accounts receivable received during the tax year, regardless of when the

accounts and other qualified retirement plans; bonds and other evidences

account was opened or closed. Nonresidents must report all income which

of indebtedness issued by the federal government, the State of Kansas or

has a Kansas business situs.

any of its municipal or taxing subdivisions, certain distributions of subchapter

LINE 10: Enter all other income from intangible property which is not

S corporations; certain reimbursements of interest paid on notes, the

included on lines 4 through 9. This includes taxable intangible income from

proceeds of which were the source of funds for another note; and dividends

trusts, estates, brokerage accounts, etc.

from stock of a bank, savings and loan association or regulated investment

LINE 11: Add lines 4 through 10 and enter the result on line 11. If you do

company located in Kansas or from doing business in Kansas. National

not qualify for the special senior citizen or disability exemption (see Part II),

bank associations, state banks, federal and state chartered savings and

enter this amount on line 3.

loan associations, trust companies, credit unions, and certain non-profit

PART II - SPECIAL SENIOR CITIZEN OR DISABILITY EXEMPTION

corporations operating or providing hospitals, psychiatric hospitals, adult

care homes, private children’s homes and housing for the elderly are exempt

WHO MAY QUALIFY. To be eligible for the special intangibles income

from intangibles tax.

exemption found at K.S.A. 12-1,109(c)(1), you must be 60 years of age or

WHEN AND WHERE TO FILE. If you have intangibles income, you must

older on or before January 1, 2012; or have been disabled or blind during

file a Form 200 with your local County Clerk’s office (addresses follow the

all of 2011, regardless of age; AND have a household income of $20,000 or

tax rates) on or before April 15, 2012 (there are no provisions for extensions

less. If your total household income for 2011 is between $15,000 and

of time to file Form 200). Do not enclose Form 200 with your Kansas

$20,000, the $5,000 intangibles income exemption is reduced by the amount

Income Tax Return, Form K-40 or mail your payment to the Department

your total income exceeds $15,000. If married, only one spouse can claim

of Revenue. The county clerk will compute your tax and you will be billed by

the special intangibles income exemption. This special exemption cannot

your local county treasurer in November 2012. If your return is delinquent,

be claimed for a decedent who died prior to January 1, 2012.

interest and/or penalty may be assessed by the county treasurer’s office.

LINE 12: Enter the month, day, and year of your birth.

This will be included in your tax billing when you receive it. If your tax is less

LINE 13: To claim the special exemption for a disability or blindness, you

than $5, you will not be billed.

must have been disabled or blind during the entire year of 2011. If you are

AMENDED RETURNS. To correct an error on a Form 200 that has already

filing as a disabled person, attach a copy of your Social Security certification

been filed, complete another Form 200 with the correct information and write

of disability letter showing proof you received Social Security benefits during

“AMENDED” across the top. Attach a letter explaining the correction.

the entire year of 2011 based upon your disability. If you are not covered by

Social Security, you must furnish medical proof that your disability has

SPECIFIC LINE INSTRUCTIONS

qualified you as a disabled person under the provisions of the Social Security

Print or type your name, address and Social Security number(s) or federal

Act. If you are blind, submit a visual acuity statement from your doctor.

identification number. If your accounting records are maintained by fiscal

LINE 14: Add the total income received from ALL sources during 2011

year, indicate the year in the space provided above your name.

by you, or you and your spouse. Include wages, Social Security (except

LINE 1: Mark the appropriate box. If YES, enter the city or town where

Social Security Disability payments), railroad retirement, and any other

your residence is located. If NO, enter the township where your residence

pension income; interest, dividends, salaries, commissions, fees, bonuses,

is located. Do not enter both a city and a township name.

tips and any gain from the sale of property. Include also your share of income

received from partnerships, estates, trusts and royalties, net rental income,

LINE 2: Enter the name of the county in which your residence is located.

and business or farm income. Net operating losses and net capital losses

LINE 3: Enter the intangibles income computed in Part I, line 11; or, if

may not be used to reduce total income. If this total is greater than $20,000,

you qualify for the special senior citizen or disability exemption, enter the

stop here and enter the amount from line 11 of Part I on line 3.

amount from Part II, line 17.

LINE 15: Enter the total intangibles income from Part I, line 11.

PART I - INTANGIBLES EARNINGS

LINE 16: If your total household income on line 14 is $15,000 or less,

enter $5,000 on line 16. If line 14 is greater than $15,000 but less than

There are no exemptions or deductions allowable to reduce total

$20,000, subtract the amount over $15,000 from $5,000, and enter the result

gross earnings as reported on this return.

on line 16. Example: If line 14 is $18,000, enter $2,000 on line 16.

LINE 4: Enter interest or other income received or credited to your account

LINE 17: Subtract line 16 from line 15 and enter the result on line 17 and

from bank savings accounts, bank checking accounts, certificates of deposits,

on line 3. This is your taxable intangibles income.

and other time deposits, regardless of the bank’s location or when the security

was owned. Also, enter any interest or dividends received or credited to your

ASSISTANCE. If you need assistance in completing your Intangibles

account by savings and loan associations and credit union regardless of

Tax Return, Form 200, call your local County Clerk’s office.

Form 200 - Local Intangibles Tax Return - 2012 Page 2

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