Schedule K-71 - Kansas Mathematics And Science Teacher Employment Credit (Page 2 of 2) in pdf

INSTRUCTIONS FOR SCHEDULE K-71

GENERAL INFORMATION

SPECIFIC LINE INSTRUCTIONS

Enter all requested information at the top of this schedule. Mark

K.S.A. 79-32,215 provides an income tax credit to any business

firm which has entered into a partnership agreement to employ a

the appropriate check box of the congressional district for which

Kansas mathematics or science teacher during times that school

the business firm is located. A list of Kansas cities and counties

is not in session. The credit is for taxable years 2005, 2006 and

by congressional district is available on the following website:

2007 and is:

1) 25% of the amount paid during the taxable year by such

PART A – COMPUTATION OF CREDIT AVAILABLE FROM

business firm to teachers as salary pursuant to the

THIS YEAR’S SALARIES

partnership agreement; or

2) 30% of the amount paid during the taxable year by such

LINE 1 – Enter the total amount paid during the tax year to teachers

business firm to teachers as salary pursuant to the

as salary pursuant to the partnership agreement when the

partnership agreement if the teacher is teaching in a

teacher is NOT teaching in a school district located in a rural

school district located in a rural community, underserved

community, underserved area or underperforming urban area.

area or underperforming urban area.

LINE 2 – This part of the credit is limited to 25% of the salary paid

The total amount of credits are limited to $500,000 in any one

during the tax year.

fiscal year and no more than $125,000 of credits shall be for

business firms located in any one congressional district per fiscal

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

year.

LINE 4 – Enter the total amount paid during the tax year to teachers

No credit shall be allowed to a business firm when the teacher

as salary pursuant to the partnership agreement when the

employed by the firm is a household or family member of any

teacher IS teaching in a school district located in a rural

owner, director, officer or employee of such business firm.

community, underserved area or underperforming urban area.

The total credit allowed shall not exceed the amount of tax

LINE 5 – This part of the credit is limited to 30% of the salary paid

imposed under the Kansas income tax act.

during the tax year.

The Secretary of Revenue shall approve these credits IN

LINE 6 – Multiply line 4 by line 5, and enter the result on line 6.

ADVANCE on a first-come, first serve basis. Prior to a business

LINE 7 – Add line 3 and line 6, and enter the result on line 7.

firm claiming this tax credit, the Secretary of Revenue shall require

submission of the following: 1) A partnership agreement for each

LINE 8 – Partners, shareholders or members: Enter the percentage

teacher employed; 2) the salary amount paid to each teacher

that represents your proportionate share in the partnership, S

during the taxable year; and 3) any additional information the

corporation, LLC or LLP. All other taxpayers: Enter 100%.

Secretary of Revenue may require.

LINE 9 – Multiply line 7 by line 8 and enter the result on line 9. This

The partnership agreement form can be found by visiting the

is your share of the tax credit.

following website:

PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR

DEFINITIONS

LINE 10 – Your tax liability. Enter your tax amount for this tax year

after all credits, other than this credit.

Business firm: Any business entity authorized to do business

in the state of Kansas which is subject to the state income tax

LINE 11 – Amount of credit this tax year. Enter the lesser of line

imposed by the provisions of the Kansas income tax act and any

9 or line 10. Enter this amount on the appropriate line of Form

individual subject to the state income tax imposed by the

K-40, Form K-41 or Form K-120. (You may not carry over any

provisions of the Kansas income tax act.

amount of credit exceeding your tax liability.)

Partnership agreement: An agreement entered into pursuant

to K.S.A. 79-32,215. Such agreement shall contain a description

TAXPAYER ASSISTANCE

of the duties of the position the teacher shall be performing,

sufficient to establish that such position satisfies the criteria set

Questions about the Math and Science Teacher Service Credit

forth in K.S.A. 79-32,215.

or for assistance in completing this schedule contact the Kansas

Department of Revenue:

Rural community: The meaning ascribed thereto by K.S.A.

79-32,195, and amendments thereto.

Taxpayer Assistance Center

Teacher: A person who holds a certificate to teach in Kansas

Docking State Office Building, 1

Floor

with an endorsement in the areas of mathematics, science,

915 SW Harrison St.,

physics, chemistry or biology and has entered into a partnership

Topeka, KS 66625-2007

agreement.

Phone: (785) 368-8222

Underperforming urban area: An area of the state in which

Hearing Impaired TTY: (785) 296-6461

low academic performance by pupils in school districts in such

Fax: (785) 291-3614

area as determined and specified by the state board of education.

Underserved area: The meaning ascribed thereto by K.S.A.

Additional copies of this income tax credit schedule and other

74-32,101, and amendments thereto.

tax forms are available from our web site at

Schedule K-71 - Kansas Mathematics And Science Teacher Employment Credit Page 2

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