Kansas—Corporate Income Tax: Changes to High-Performance Incentive Program
Kansas issued a notice on changes made during the 2021 legislative session to the High-Performance Incentive Program investment tax credit for corporate income tax purposes. The notice clarified that a new law:
- Removes participation in the Kansas Industrial Training program or the Kansas Industrial Retraining program as a requirement to qualify for the credit;
- Allows an entity to transfer up to 50% of its credit to another entity or individual if the project is placed into service on or after January 1, 2021;
- Clarifies that in the event the Secretary of Revenue determines the credit is not allowable, the taxpayer who originally earned the credit is liable for the disallowed amount; and
- Specifies that the credit is claimed against the transferee’s income tax, premium tax, or privilege fees liability.
Notice 21-12, Kansas Department of Revenue, July 19, 2021, released August 2021.
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