Fillable Schedule K-33 - Kansas Agritourism Liability Insurance Credit (Page 2 of 2) in pdf

INSTRUCTIONS FOR SCHEDULE K-33

GENERAL INFORMATION

LINE 3 – Multiply line 1 by line 2, and enter the result. This

is the credit available for this year’s expenditures.

K.S.A. 32-1438 and 32-1438a provides for an income tax

LINE 4 – Enter the amount of any credit carry forward from

credit equal to 20% of the cost of liability insurance paid by a

a prior year’s Schedule K-33. (There will not be an entry

registered agritourism operator who operates an agritourism

on this line in the first year.)

activity. The maximum credit allowed is $2,000 per tax year.

An agritourism business must register with the Kansas

LINE 5 – Add line 3 and line 4. This is the total credit available

Department of Wildlife, Parks and Tourism and receive a

for this tax year.

certificate of eligibility to claim this income tax credit.

LINE 6 – The maximum credit allowable for any tax year is

Registered agritourism businesses who begin operating

$2,000.

on or after July 1, 2004 may claim this credit for the first five

taxable years the agritourism business is open.

LINE 7 – Enter the lesser of line 5 or line 6. This is the credit

for this tax year.

If the credit exceeds the taxpayer’s income tax liability for

the tax year, the excess credit may be carried forward to

PART B – COMPUTATION OF THIS YEAR’S CREDIT

the next succeeding year or years until the total amount of

tax credit has been used, except that no credit may be

LINE 8 – Enter your Kansas tax liability for this tax year

carried over for deduction after the third taxable year

after all credits other than this credit.

succeeding the taxable year in which the credit is earned.

LINE 9 – Enter the lesser of line 7 or line 8. Enter amount

For tax year 2013, and all tax years thereafter,

here and on the appropriate line of Form K-40,

new credits shall be available to only corporations

K-41 or K-120 (K-120 filers will enter this amount in

that are subject to the Kansas corporate income tax (i.e.,

Part I of Form K-120).

C Corporations). New credits shall no longer be available to

individuals, partnerships, S corporations, limited liability

If line 8 is LESS than line 7, complete Part C.

companies, and other pass-through entities.

PART C – COMPUTATION OF EXCESS CREDIT CARRY FORWARD

Carry Forward of Unused Credits: If this credit was earned

prior to tax year 2013 and a carry forward credit remains

LINE 10 – Subtract line 9 from line 7. Do not enter an amount

available to a taxpayer, that taxpayer may continue to claim

less than zero. This is the carry forward credit available

that credit. However, that carry forward credit shall be subject

to enter on next year’s Schedule K-33.

to limitations and requirements in place at the time the credit

was earned.

IMPORTANT: Do not send enclosures with this credit

schedule. Keep a copy of the certificate issued by

SPECIFIC LINE INSTRUCTIONS

Kansas Department of Wildlife, Parks and Tourism

with your records. KDOR (Kansas Department of Revenue)

IMPORTANT: An agritourism business must be

reserves the right to request additional information as

registered with the Kansas Department of Wildlife,

necessary to verify your tax credit.

Parks and Tourism to be eligible for this tax credit.

TAXPAYER ASSISTANCE

Complete all information at the top of the schedule.

For information and assistance regarding the

PART A – COMPUTATION OF CREDIT AVAILABLE FOR

establishment or operation of an agritourism activity contact:

THIS YEAR’S EXPENDITURES

Kansas Department of Wildlife, Parks and Tourism

LINE 1 (C Corporations only) – Enter total amount paid for

1020 S Kansas Avenue

liability insurance during this tax year as a direct expense

Topeka, KS 66612

of operating an agritourism operation registered with

Kansas Department of Wildlife, Parks and Tourism. Your

Phone: (785) 296-1847

insurance agent must certify that the liability insurance

Web site: kdwpt.state.ks.us

meets the eligibility criteria for claiming this credit as

set out in Kansas Administrative Regulation 115-40-1

For assistance in completing this schedule contact KDOR:

et seq., specifically that the amount entered on line 1:

Tax Operations

1) was paid during this tax year,

Docking State Office Building, 1st fl.

2) is limited to only the parcel(s) of real property

915 SW Harrison St.

employed in the agritourism operation, and

Topeka, KS 66612-1588

3) is the cost of specific liability insurance for the

agritourism operation that is in addition to existing

Phone: (785) 368-8222

liability insurance coverage.

Fax: (785) 291-3614

LINE 2 – The credit amount is 20% of the cost of liability

Additional copies of this credit schedule and other tax

insurance paid by a registered agritourism operator

forms are available from our web site at:

during the tax year.

Schedule K-33 - Kansas Agritourism Liability Insurance Credit Page 2

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