K.A.R. 92-12-146
Definitions.
# (a)
‘‘Contribution,’’ as defined in K.S.A. 2016 Supp. 72-99a02 and Income Tax amendments thereto, shall include any donation of cash, stocks and bonds, personal property, or real property.
# (1)
Stocks and bonds shall be valued at the stock market price on the date of the transfer.
# (2)
Personal property shall be valued at the lesser of its fair market value or the cost to the donor.
The value may include costs incurred in making the donation but shall not include sales tax. If the donor received the personal property as a gift or inheritance and the item is considered a rare and valuable antique or work of art, an independent appraisal may be necessary in determining the fair market value.
# (3)
The donation of real property shall be allowable for tax credit if title to the real property is in fee simple absolute and is clear of any encumbrances. The amount of tax credit allowable for donations of real property shall be based upon the lesser of two current, independent appraisals conducted by state-licensed appraisers.
# (b)
‘‘Contributor’’ shall mean any of the following entities making a contribution:
# (1)
A taxpayer filing an income tax return pursuant to the Kansas income tax act, and amendments thereto;
# (2)
a taxpayer filing a privilege tax return pursuant to K.S.A. 79-1105c et seq., and amendments thereto; or
# (3)
a taxpayer filing an insurance premium tax return pursuant to K.S.A. 40-252, and amendments thereto. (Authorized by and implementing K.S.A. 2016 Supp. 72-99a07, as amended by
L. 2017, ch. 95, sec. 97; effective Dec. 5, 2014;
amended Jan. 5, 2018.)
Amendment history
(Authorized by and implementing K.S.A. 2016 Supp. 72-99a07, as amended by L. 2017, ch. 95, sec. 97; effective Dec. 5, 2014; amended Jan. 5, 2018.)
Source: official source document (2022 KAR Book 4, Kansas Secretary of State)
In this article (40 sections)
- 92-12-86 · Property factor; consistency in reporting.
- 92-12-87 · Property factor; numerator.
- 92-12-88 · Property factor; valuation of owned property.
- 92-12-89 · Property factor; valuation of rented property.
- 92-12-90 · Property factor; averaging property values.
- 92-12-91 · Payroll factor; in general.
- 92-12-92 · Payroll factor; denominator.
- 92-12-93 · Payroll factor; numerator.
- 92-12-94 · Payroll factor; compensation paid in this state.
- 92-12-95 · Sales factor; in general.
- 92-12-96 · Sales factor; denominator.
- 92-12-97 · Sales factor; numerator.
- 92-12-98 · Sales factor; sales of tangible personal property in this…
- 92-12-99 · Sales factor; sales of tangible personal property to United…
- 92-12-100 · Sales factor; sales other than sales of tangible personal…
- 92-12-101 · Special rules; in general.
- 92-12-102 · Special rules; property factor.
- 92-12-103 · Special rules; sales factor.
- 92-12-104 · 92-12-104
- 92-12-105 · Contribution to income; debtor setoff.
- 92-12-106 · Composite returns for nonresident partners and shareholders.
- 92-12-109 · Report of income adjusted by internal revenue service.
- 92-12-110 · Combined income method of reporting; surtax exemption.
- 92-12-111 · Special rules; airlines.
- 92-12-112 · Sales factor numerator; assignment of sales of a…
- 92-12-113 · Credit for property tax paid on commercial and industrial…
- 92-12-114 · Determining transportation income within a unitary group.
- 92-12-120 · Definition of qualified taxpayer.
- 92-12-121 · Incurred qualified expenditures.
- 92-12-130 · Amount of tax credit.
- 92-12-140 · Definitions.
- 92-12-141 · Tax credit agreement.
- 92-12-142 · Tax credit application.
- 92-12-143 · Quarterly reports.
- 92-12-144 · Reallocation of credits.
- 92-12-145 · Transfer of tax credits.
- 92-12-146 · Definitions.
- 92-12-147 · Tax credit agreement.
- 92-12-148 · Tax credit application.
- 92-12-149 · Quarterly reports.