Kansas Statutes Annotated Chapter 79 — Taxation
K.S.A. 79-4601
Private foundation; corporation as; acts prohibited
No corporation which is a "private foundation" as defined in § 509 (a) of the internal revenue code of 1954, shall
# (a)
engage in any act of "self-dealing" (as defined in § 4941 (d) of the internal revenue code of 1954), which would give rise to any liability for the tax imposed by § 4941 (a) of the internal revenue code of 1954;
# (b)
retain any "excess business holdings" (as defined in § 4943 (c) of the internal revenue code of 1954), which would give rise to any liability for the tax imposed by § 4943 (a) of the internal revenue code of 1954;
# (c)
make any investment which would jeopardize the carrying out of any of its exempt purposes, within the meaning of § 4944 of the internal revenue code of 1954, so as to give rise to any liability for the tax imposed by § 4944 (a) of the internal revenue code of 1954; and
# (d)
make any "taxable expenditures" (as defined in § 4945 (d) of the internal revenue code of 1954) which would give rise to any liability for the tax imposed by § 4945 (a) of the internal revenue code of 1954.
Amendment history
L. 1971, ch. 313, § 1; July 1.
Source: view the official text
In this article (8 sections)
- 79-4601 · Private foundation; corporation as; acts prohibited
- 79-4602 · Same; distribution required
- 79-4603 · Application of act; exceptions
- 79-4604 · Authority of courts and attorney general not impaired
- 79-4605 · Trusts which are private foundations, charitable trusts or…
- 79-4606 · Same; distribution required
- 79-4607 · Application of act; exceptions
- 79-4608 · Authority of courts and attorney general not impaired