2018 Kansas Statutes
Chapter 79 TAXATION
Article 32 INCOME TAX
79-32,155 Same; election to defer credit.
79-32,155. Same; election to defer credit. A taxpayer entitled to the credit allowed by K.S.A. 79-32,153, and amendments thereto, may elect to defer the commencement of the ten-year period during which such credit is allowed to any taxable year not later than the third taxable year following the taxable year in which commencement of commercial operations at the qualified business facility occurs. The taxpayer shall perfect such election by notifying the secretary of revenue, by a written statement attached to the return for the taxable year in which commencement of commercial operations at the qualified business facility occurs, of the intention to make such election. Once said election has been perfected, the credit shall be allowed for the taxable year specified in such election and for each of the nine succeeding taxable years.
History: L. 1976, ch. 431, § 3; L. 1986, ch. 385, § 3; July 1.
