Kansas Refund From Carry Back of Farm Net Operating Loss

Refund From Carry Back of Farm Net Operating Loss
K-139F Kansas Corporate Application for Refund From Carry Back of Net Operations Loss Rev. 8-18
K-139F
PLEASE PRINT OR TYPE

(Rev. 8-18)

KANSAS

151601

CORPORATE SCHEDULE FOR REFUND FROM CARRY BACK OF FARM NET OPERATING LOSS

Name	

Federal	Identification	Number

Enter the taxable year and amount of net operating loss carry back.

Number	and	Street	of	Principal	Office
City

State

Zip Code

Year Ending

Net operating Loss

______________

_______________

Date Loss Year Filed
______________

Is the year ending above a FINAL return for Kansas?

o Yes o No

CHART I - COMPUTATION OF DECREASE IN TAX
NO REFUND WILL BE MADE
WITHOUT FEDERAL SUPPORTING
SCHEDULES

Fifth preceding taxable
year ending ______________

Fourth preceding taxable
year ending ______________

Third	preceding	taxable
year ending ______________

Second preceding taxable
year ending ______________

First preceding taxable
year ending ______________

Return	as	filed	 Liability after
or liability as
application of
last determined
carryback
(a)
(b)

Return	as	filed	 Liability after
or liability as
application of
last determined
carryback
(c)
(d)

Return	as	filed	 Liability after
or liability as
application of
last determined
carryback
(e)
(f)

Return	as	filed	 Liability after
or liability as
application of
last determined
carryback
(g)
(h)

Return	as	filed	 Liability after
or liability as
application of
ast determined
carryback
(i)
(j)

1. Kansas net taxable income as last
adjusted.
2. Net operating loss deduction carry back.
3. Net taxable income (subtract line 2 from
line 1).
4. Normal tax (4% of line 3).
5. Surtax (3% of amount of line 3 in excess
of $50,000).
6. Total	tax	(add	lines	4	and	5).
7. Nonrefundable credits (enclose
applicable schedules if original amount
changed).
8. Tax	liability	after	credits	(subtract	line	7
from line 6).
9. Enter amount from line 8, columns b, d,
f, h and j.
10. Decrease in tax (subtract line 9 from line 8).
11. Total	decrease	in	tax.	Claim	in	$1,500
increments beginning with the tax year of
the farm net operating loss (add line 10,
columns a, c, e, g and i).

sign
here

__________________________________________________________________________________________________

Signature	of	officer	

Title	

Date	

___________________________________________________________________________________________________

Signature	of	preparer	(individual	or	firm)	

Address	

Date

151602

CHART II - FARM NET OPERATING LOSS (REFUND/CARRY FORWARD TRACKING)
(a) Taxable	year:

__________________

to

__________________

.

(b) Loss	year: ___________________ to

(d)
Amount of Refund
(limited to $1,500 per year)

___________________ .

(e)
Tax	Liability

(c) Amount	from	K-139F,	Chart	I,	line	11j: _____________________________ .
(f)
Amount of Carry Forward
(limited to the tax liability amount)

(g)
Balance

Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________
Tax	Year: _____________________

INSTRUCTIONS FOR SCHEDULE K-139F (Include Schedule K-139F with your loss year return)
GENERAL INFORMATION
Chart I is for reporting net operating farm loss [as
defined	by	26	U.S.C.	172(j)]	carry	backs	only.	Kansas	tax	
laws regarding net operating farm losses are in conformity
with the federal net operating farm loss (NOL) tax laws.
Therefore,	 corporations	 must	 have	 a	 NOL	 farm	 loss	 in	
order to have a Kansas NOL. See K.S.A. 79-32,143.
For net operating farm losses	[as	defined	by	26	U.S.C.	
172(j)]	incurred	in	taxable	years	beginning	after	December	
31, 1999, a net operating farm loss deduction is allowed
under Kansas law in the same manner that it is allowed
under the federal internal revenue code except that such
NOL may be carried forward to each of the ten (10) taxable
years following the taxable year of the net operating
loss. Furthermore, said net operating farm losses (those
incurred in taxable years beginning after December 31,
1999) may be carried back a	maximum	of	five	(5)	taxable	
years (if carried back on the federal return). Enclose a
copy of the federal return 1139 or 1120X.
Any refund of income tax which results from a farm
NOL carry back shall be allowed in an amount not to
exceed $1,500 per year. Any refund in excess of $1,500
in a given year will be carried forward for payment in the
next calendar year. For example, if tax year 2014 loss is

carried back to tax year 2009 income and a $5,000 refund
is due, $1,500 of the total refund will be refunded to the
taxpayer upon processing of the 2009 tax year return
in 2010. A second payment of $1,500 will be refunded
upon processing of the 2010 tax year return in 2011. A
third payment of $1,500 will be refunded upon processing
of the 2011 tax year return in 2012, and the remaining
balance of $500 will be refunded in 2013.
K.S.A. 79-32,143(f) allows a carry forward of any
overpayment	as	a	result	of	a	farm	NOL	carry	back:
No refund of income tax which results from a farm NOL
carry back shall be allowed in an amount exceeding $1,500
in any year. Any overpayment in excess of $1,500 may
be carried forward to any year or years after the year
of the loss and may be claimed as a credit against the
tax. The refundable portion of such credit shall not exceed
$1,500 in any year. (Emphasis added).

INSTRUCTIONS FOR CHART II
Use	Chart	II	to	track	refunds	(as	a	result	of	a	farm	NOL	
carry back) and any subsequent carry forward of those
refunds.
(a) Enter the taxable year of your return.
(b) Enter the loss year from which the overpayment of
tax results.

(c)

Enter the amount from Chart I, line 11j of this Farm
NOL Schedule.
(d) Enter the amount of refunds, by tax year, already
issued to you as a result of a farm NOL. A maximum
refund of $1,500 per year is allowed as a result of
a Farm NOL. For tax years beginning with 2006,
taxpayers may carry forward some or all of the
overpayment of tax (as a result of a farm NOL
carry back) to any future year(s) to be used as a
credit against any tax owed. Enter in column (d)
the amount of refund, if any, you are requesting.
Enter this same amount on the appropriate line of
Form	K-120,	PART	I,	refundable credit.
(e) For tax year beginning on and after July 1, 2006,
enter the amount of your tax liability for this tax
year after all credits other than this credit.
(f) For tax year beginning on and after July 1, 2006,
enter the amount of tax you want applied to this
tax year’s liability (do not enter more than this
year’s tax liability). Enter this same amount on the
appropriate line of Form K-120, PART I,
nonrefundable credit.
(g) Enter the balance of the overpayment here.
Subtract the sum of (g) and (f) from the previous
year’s balance.