Fillable Schedule K-73 - Kansas Petroleum Refinery Credit printable pdf download

K-73

–

KANSAS

PETROLEUM REFINERY CREDIT

(Rev. 9/11)

For the taxable year beginning _________________ , 20____ ; ending _________________ , 20____ .

Name of taxpayer (as shown on return)

Social Security Number or Employer ID Number (EIN)

If partner, shareholder or member, enter name of partnership, S corporation, LLC or LLP

Employer ID Number (EIN)

PART A COMPUTATION OF CREDIT

Complete PART A in the year the new refinery, the expansion of an existing refinery or the restoration of production of a refinery has been

placed into service.

1. Enter the total amount of the “qualified investment”. Do not enter more than $250,000,000.

1. __________________

10%

2. Authorized credit percentage.

2. __________________

3. Credit limit on the “qualified investment” of $250,000,000 or less. Multiply line 1 by line 2.

3. __________________

4. Enter the total amount of the “qualified investment” that exceeds $250,000,000.

4. __________________

5. Authorized credit percentage.

5. __________________

6. Credit limit on the “qualified investment” that exceeds $250,000,000. Multiply line 4 by line 5.

6. __________________

7. Credit limit on the total “qualified investment”. Add line 3 and line 6.

7. __________________

10%

8. Authorized credit percentage allowed to be claimed each tax year.

8. __________________

9. Total credit allowed to be claimed in the year the refinery is placed into service. Multiply line 7 by line 8.

9. __________________

10. Proportionate share percentage (see instructions).

10. ________________

11. Your share of the credit that may be claimed this tax year and the next subsequent nine (9) tax years.

Multiply line 9 by line 10.

11. _________________

PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR

Indicate, by checking the appropriate box, which year of the ten (10) equal annual installments for which this credit is being claimed:

‰

1st yr.

2nd yr.

3rd yr.

4th yr.

5th yr.

6th yr.

7th yr.

8th yr.

9th yr.

10th yr.

If the credit is being claimed for the “carry-over” 11th, 12th, 13th or 14th tax years, skip line 12 and make an entry on line 13.

12. Enter the amount from line 11, Schedule K-73 from the first year in which this credit was claimed.

12. ________________

13. Enter the amount of available carry forward credit from the prior year’s Schedule K-73.

13. ________________

14. Total credit available this tax year. Add lines 12 and 13.

14. ________________

15. Amount of your Kansas tax liability for this tax year after all credits other than this credit.

15. ________________

16. Amount of credit allowable this tax year. Enter the lesser of lines 14 or 15.

Enter this amount on the appropriate line of Form K-40, Form K-41 or Form K-120.

16. ________________

If line 16 is less than line 14, complete PART C.

PART C – COMPUTATION OF CARRY FORWARD CREDIT

17. Amount of credit to carry forward to next year’s Schedule K-73. Subtract line 16 from line 14.

Enter this amount on line 13 of next year’s Schedule K-73.

17. ________________

Schedule K-73 - Kansas Petroleum Refinery Credit

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