Schedule K-59 - Kansas High Performance Incentive Program (Hpip) Credits Page 4
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4Column (3) – Qualifying Year-QBF Monthly Investment: In the
this qualified business facility investment.
heading of Column (3), enter the tax year you are establishing the current
Line 20: Enter the total compensation paid during this tax period for the
credit. On lines 11a through 11l, enter the total cumulative value of HPIP
employee(s) identified on line 19.
investment on the last business day of each full calendar month of
Line 21: Enter the income or loss generated during this tax period as a
operation at the QBF during the portion of the taxable year the QBF
direct result of the qualified business facility investment made.
was in operation. If the QBF was in operation for only three full months
Line 22: Enter the sales generated during this tax period as a direct
during the tax year, you would enter the investment for those three
result of the qualified business facility investment made.
months.
Line 23: Enter the entity’s total number of employees in the state of
Line 11m: For each Column, (2) and (3), add the amounts on lines 11a
Kansas for this tax period.
through 11l and enter the result on line 11m.
Line 24: Enter the total amount of compensation paid during this tax
Line 11n: For each Column, (2) and (3), divide the total in line 11m by the
period for the total number of employees on line 23.
number of full months the QBF was in operation.
PART E - CARRY FORWARD SCHEDULE
Line 11o: For each Column, (2) and (3), enter the value of the property
rented by the taxpayer and used at the QBF. Rented property is valued
This schedule will track the credit carry forward available for this particular
at eight times the net annual rental rate.
investment credit. Complete a new line for each tax year the credit is
Line 11p: For each Column, (2) and (3), add lines 11n and 11o.
carried forward, on the same schedule, until the credit is exhausted or the
Line 11q: Enter the base amount shown on line 11p, Column (2).
16 succeeding tax years have lapsed. Once a credit is established, any
Line 11r: For Column (3), subtract line 11q from line 11p.
succeeding tax year in which the carry forward credit is not claimed will be
Line 11s: Enter $1,000,000 as the minimum investment allowed if the
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considered as one of the 16
succeeding tax years.
qualified business facility investment was made on or after January 1,
To claim remaining carry forward the taxpayer must be recertified for
2012 and in the county of Douglas, Johnson, Sedgwick, Shawnee, or
the majority of the tax year in which the carry forward is to be claimed,
Wyandotte. (See exception.)
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except that no carry forward shall be allowed for deduction after the 16
Enter $50,000 as the minimum investment allowed if: 1) the qualified
taxable year succeeding the taxable year in which the credit initially was
business facility investment was made in any county other than Douglas,
claimed. To obtain the recertification, you must complete the HPIP
Johnson, Sedgwick, Shawnee, or Wyandotte; or 2) the taxpayer has filed
Restricted Application with KDOC.
a certificate of intent to invest in a qualified business facility in the county
When claiming a carry forward credit, you will need to submit the first
of Douglas, Johnson, Sedgwick, Shawnee, or Wyandotte prior to
page of Schedule K-59, with the taxpayer information as contained in the
December 31, 2011 and commences investment in the qualified business
header, and lines 10, 13, 14, 15, 16, PART D and PART E completed.
facility prior to December 31, 2013.
Lines 25 through 40:
Line 11t: Subtract the minimum investment allowed on line 11s ($1,000,000
a.
Tax Year – For line 25, enter the first tax year following the tax
or $50,000) from line 11r in Column (3).
year the credit was computed. For lines 26 through 40, enter the
Line 11u: Multiply line 11t, Column (3), by 10% and enter the result.
next consecutive tax year.
Line 12: Partners, shareholders or members must enter their ownership
b.
Certification No. – Enter the certification or recertification number
percentage in the partnership or S corporation. All other taxpayers enter
from KDOC for this tax year entered on line a.
100%.
c.
Certification Period – Enter the time period covered under the
Line 13: Multiply line 11u by line 12. This is the amount of current year
certification or recertification for the tax year.
credit available.
d.
Carry Forward Amount – For line 25, enter the amount from
Line 13a: Enter amount of the available credit forward from the prior tax year.
PART C, line 16. For lines 26 through 40, enter the amount of
Line 13b: Add lines 13 and 13a. This is the total credit available this tax year.
available credit forward from the prior tax year until the 16 succeeding
Line 14: Enter the total Kansas tax liability for the current tax year after all
tax years have expired or total carry forward has been used. Lines
previously claimed credits (including the HPIP Training and Education
35 through 40 are for HPIP carry forward on UNEXPIRED credits
Tax Credit calculated in PART B are subtracted.
where the investments were placed into service in taxable years
Line 15: Enter the lesser of line 13b or line 14. This is the amount of credit
commencing after December 31, 2000.
that can be used this tax period. Enter this amount on the appropriate
line of Form K-40, Form K-41, Form K-120, or Form K-130.
Follow the instructions on Line 13 to calculate the amount
Line 16: Subtract line 15 from line 13b. Do not enter an amount less than
of credit to be used this tax year.
zero. This is the amount of credit to be carried forward. PART D will
e.
Credit Used – Enter the credit amount to be applied against the
need to be completed for the next tax period. Enter this carry forward
tax liability of the tax year and include it on line 15.
amount on PART D, line d of the appropriate tax year.
f.
Carry Forward Available – Subtract line e from line d. This is
NOTE: If you claim the investment tax credit allowed on line 15, Schedule
the amount of credit available for the next tax year. Enter this
K-59, you may not claim a business and job development credit on Schedule
amount on line 16.
K-34 using the same QBF investment.
TAXPAYER ASSISTANCE
PART D - NEW INVESTMENT INFORMATION
Questions you may have about qualifying for the high performance
Lines 17 through 24: K.S.A. 79-32,243 requires that KDOR collect specific
incentive program should be addressed to:
information for all taxable years commencing after December 31, 2005.
Kansas Department of Commerce
The information collected will be used by KDOR in evaluating the
1000 SW Jackson, Suite 100
effectiveness of the HPIP tax credits.
Topeka, KS 66612-1354
It is important that the information provided in Part D is for the entity
claiming the tax credit. If you are completing Schedule K-59 for carry
Phone: (785) 296-5298
forward purposes only, you should complete lines 17-24 for the number
of jobs created or retained, associated payroll, revenue and sales
For assistance in completing this schedule contact the Kansas
generated during this tax period, not cumulative from the beginning of
Department of Revenue:
this credit.
Tax Operations
Line 17: Enter the number of actual jobs this taxpayer has created during
Docking State Office Building, 1st fl.
this tax period as a direct result of the qualified business facility
915 SW Harrison St.
investment made.
Topeka, KS 66612-1588
Line 18: Enter the total compensation paid during this tax period for the
employees identified on line 17.
Phone: (785) 368-8222
Fax: (785) 291-3614
Line 19: Enter the number of actual jobs that have been retained by this
Web site:
taxpayer during this tax period that would have been eliminated if not for
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