Any business firm subject to Kansas income tax, no matter what the location of the business. The funding will be used for Phase II of a two-part weatherization project. After this date any credits the Goodland Activities Center were awarded and unable to fund will be lost. After the contribution is made by the eligible business, the contributor and the GAC fill out a tax credit application form. The application is mailed to the Kansas Department of Commerce and Housing by the GAC for approval.
Business claims credit and attaches certificate to tax forms.
Credit must be claimed during the tax year contribution is made. Any unused credit may be carried forward. The taxpayer is allowed an itemized deduction for this contribution, however the amount of the contribution is added back to the Kansas taxable income for the year the contribution is made. Any unused credits can be carried forward indefinitely. All Rights Reserved.