Kansas Statutes
Article 11 - Banks, Banking Businesses, Trust Companies And Savings And Loan Associations
79-1120 Recapture tax; definitions.

79-1120. Recapture tax; definitions. As used in K.S.A. 79-1120 to 79-1125, unless the context otherwise requires: (a) "Refund" means a reimbursement by the director of taxation of taxes paid pursuant to the provisions of K.S.A. 79-1106 et seq., including any interest accrued thereon, which reimbursement is made pursuant to a judicial order of any court of competent jurisdiction finding that: (1) Any of the provisions of K.S.A. 79-1106 et seq. is discriminatory in a manner prohibited under 31 U.S.C. § 742; or (2) any of the provisions of K.S.A. 79-1106 et seq. is unconstitutional; or (3) that the tax imposed under K.S.A. 79-1107 or K.S.A. 79-1108 is otherwise invalid;
(b) "Aggregate recapture rate" means one hundred percent (100%) plus the percentage determined by the director of taxation to equal the proportion that income received from securities and obligations of the United States or authorities, commissions or instrumentalities thereof by all institutions subject to taxation under the provisions of K.S.A. 79-1106 et seq. bears to the total federal income received by all such institutions during the period or periods for which refunds are paid;
(c) "Claimant's adjustment factor" means a percentage determined by the director of taxation to equal the proportion that income received from securities and obligations of the United States or authorities, commissions or instrumentalities thereof by the institution receiving the refund bears to the total federal income of such institution during the period or periods for which the refund was received.
History: L. 1979, ch. 314, § 3; July 1.

Structure Kansas Statutes

Kansas Statutes

Chapter 79 - Taxation

Article 11 - Banks, Banking Businesses, Trust Companies And Savings And Loan Associations

79-1105c Taxation of the business of banking; prohibiting certain taxes; right to protest payment of taxes.

79-1106 Taxation of national banking associations, banks, trust companies and savings and loan associations; purpose of act.

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.

79-1110 Taxation of national banking associations, banks, trust companies and savings and loan associations; procedure for returns; tax payment; laws applicable.

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.

79-1113 National banking associations and banks and corporations holding stock therein; exemption from intangibles tax.

79-1115 Application of 79-1107 and 79-1108.

79-1116 Application of 79-1107, 79-1108 and 79-1109.

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.

79-1119 Reports, statements, lists and returns; preservation; confidentiality, exceptions; performance of certain activities by administrative personnel unlawful; penalties for violations.

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.

79-1128 Allocation and apportionment of income of financial institutions engaged in multi-state business activities; definitions.

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.

79-1136 Application of act.