HOUSE BILL No. 2055*
An Act relating to income taxation; authorizing research
and development credits.
Be it enacted by the Legislature of the State of Kansas:
Section 1. (a) For all taxable
years commencing after December 31,
2000, a credit shall be allowed against the tax imposed by the
income tax act on the Kansas taxable income of a taxpayer for
tures in research and development activities conducted within this
in an amount equal to 61/2% of the amount by which the amount
for such activities in the taxable year of the taxpayer exceeds the
average of the actual expenditures for such purposes made in such
year and the next preceding two taxable years.
(b) In any one taxable year, the amount
of such credit allowable for
deduction from the taxpayer's tax liability shall not exceed 25% of
total amount of such credit plus any applicable carry forward
The amount by which that portion of the credit allowed by
(a) and (b) to be claimed in any one taxable year exceeds the
tax liability in such year may be carried forward until the total
the credit is used.
(c) As used in this section, the term
``expenditures in research and
development activities'' means expenditures made for such
other than expenditures of moneys made available to the taxpayer
suant to federal or state law, which are treated as expenses
deduction under the provisions of the federal internal revenue code
1986, and amendments thereto.
Sec. 2. This act shall take effect and be in
force from and after its
publication in the statute book.
Approved April 19, 2001.