79-1117. Credit against tax for making certain property used in trade or business or held for production of income accessible to persons with a disability; amount; carryover to subsequent taxable years. Any taxpayer who makes expenditures for the purpose of making all or any portion of an existing building or facility accessible to persons with a disability, which building or facility is on real property located in this state and used in a trade or business or held for the production of income, shall be entitled to claim a tax credit in an amount equal to 50% of such expenditures or, the amount of $10,000, whichever is less, against the tax liability imposed against such taxpayer pursuant to K.S.A. 79-1106 to 79-1116, inclusive, and amendments thereto. Such tax credit shall be deducted from the taxpayer's tax liability for the taxable year following the year in which the expenditures are made by the taxpayer. If the amount of such tax credit exceeds the taxpayer's tax liability for such taxable year, the amount thereof which exceeds such tax liability may be carried over for deduction from the taxpayer's tax liability in the next succeeding taxable year or years until the total amount of the tax credit has been deducted from tax liability, except that no such tax credit shall be carried over for deduction after the fourth taxable year succeeding the taxable year in which the expenditures are made.
History: L. 1978, ch. 409, § 5; L. 1994, ch. 173, § 2; July 1.
Structure Kansas Statutes
Article 11 - Banks, Banking Businesses, Trust Companies And Savings And Loan Associations
79-1107 National banking associations and state banks; tax imposed; rate.
79-1108 Trust companies and savings and loan associations; tax imposed; rate.
79-1109 "Net income" defined; deductions.
79-1109a Application of 79-1107 and 79-1109.
79-1110a Application of 79-1110.
79-1111 Same; administration of act; rules and regulations.
79-1112 Disposition of tax moneys; privilege tax refund fund established; refunds.
79-1115 Application of 79-1107 and 79-1108.
79-1116 Application of 79-1107, 79-1108 and 79-1109.
79-1120 Recapture tax; definitions.
79-1121 Same; imposition; computation of amount.
79-1122 Same; time for assessment and payment; penalties.
79-1123 Administration of act; rules and regulations.
79-1124 Same; disposition of moneys; refunds.
79-1126 Credit against tax for interest rate reduction for agricultural production loan.
79-1126a Credit against tax for interest rate reductions on certain agricultural production loans.
79-1127 Estimated tax; manner of payment; penalties.
79-1129 Same; procedures and methodology in determining allocable and apportionable income.
79-1130 Same; receipts factor defined and described.
79-1131 Same; property factor defined and described.
79-1132 Same; payroll factor defined and described.
79-1133 Tax upon cessation of business as financial institution; computation.
79-1134 Supplemental to 79-1106 et seq.
79-1135 Consolidated returns or combined reports required, when.