Kansas taxable income of a resident estate or trust

Official textksrevisor.govlast amended 1967

The Kansas taxable income of a resident estate or trust means its federal taxable income as defined in the internal revenue code for the taxable year, with the following modifications:

# (a)

There shall be subtracted an amount equal to the Kansas exemption of the estate or trust, and there shall be added the amount of its federal deduction for a personal exemption. The Kansas exemption shall be an amount equal to the personal exemption allowable to such estate or trust for federal income tax purposes.

# (b)

There shall be added or subtracted, as the case may be, the modifications described in K.S.A. 79-32,117 (b), (c), (e), K.S.A. 79-32,120 (b) and (c), to the extent such items are excluded from federal distributable net income of the estate or trust.

# (c)

There shall be added or subtracted, as the case may be, the share of the estate or trust in the Kansas fiduciary adjustment determined under K.S.A. 79-32,135 .

Amendment history

L. 1967, ch. 497, § 27; May 12.

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