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Kansas Center for Entrepreneurship Credit
Extracted from PDF file 2023-kansas-form-k-31.pdf, last modified September 2020Center for Entrepreneurship Credit
K-31 KANSAS 190118 CENTER FOR ENTREPRENEURSHIP CREDIT (Rev. 1-22) For the taxable year beginning ____________________ , 20 _____ ; ending __________________________ , 20______ Name of taxpayer (as shown on return) Social Security Number or Employer ID Number (EIN) If partner, shareholder or member, enter name of partnership, S corporation, LLC or LLP Employer ID Number (EIN) Enter exact date and amount of contributions made this taxable year (if additional space is needed, enclose a separate sheet): Date Amount Date Amount _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ PART A – COMPUTATION OF CREDIT AVAILABLE FROM THIS YEAR’S CONTRIBUTIONS 1. Enter the total contributions made to the Kansas Center for Entrepreneurship (KCE) this tax year. 1. ___________________________ 2. Proportionate share percentage (see instructions). 2. ___________________________ 3. Your share of contributions (multiply line 1 by line 2). 3. ___________________________ 4. Authorized credit percentage. 4. ___________________________ 5. Your share of the credit for contributions made this year (multiply line 3 by line 4). 5. ___________________________ 6. Enter the amount of available carryforward credit from the prior year’s Schedule K-31. 6. ___________________________ 7. Total credit available this tax year (add lines 5 and 6). 7. ___________________________ 8. Amount of your Kansas tax liability for this tax year after all credits other than this credit. 8. ___________________________ 9. Enter the lesser of lines 7 or 8. This is the amount of credit allowed this tax year. Enter this amount on the appropriate line of Form K-40, K-41, K-120 or K-130. 9. ___________________________ 10. Subtract line 9 from line 7. This is the amount of credit to carry forward to next year’s Schedule K-31. Enter this amount on line 6 of next year’s Schedule K-31. 10. ___________________________ % 75% PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR PART C – COMPUTATION OF CARRYFORWARD CREDIT INSTRUCTIONS FOR SCHEDULE K-31 GENERAL INFORMATION K.S.A. 74-99c09 provides a tax credit against the income or premiums tax for an investor making a contribution of cash or property (other than used clothing) in an amount or value of $250 or more to the KCE (Kansas Center for Entrepreneurship). For tax year 2019, and all tax years thereafter, new tax credits will be available for privilege tax as measured by net income of financial institutions. The credit is 75% of the total amount of cash or property donated during the taxable year, subject to the limitations below. If the credit allowed exceeds the investor’s tax liability in any one taxable year, the remaining portion of the credit may be carried forward until the total amount of the credit is used. To receive this credit your application for registration of authorized tax credits must be approved by the KCE. This tax credit is limited to $50,000 per individual contributor per tax year for tax years prior to January 1, 2019. For tax years beginning January 1, 2019 and after, the tax credit is limited to $100,000 per individual contributor per tax year. A “contribution” is the donation of cash or property, other than used clothing, in an amount or value of $250 or more. A “contributor” is a person or entity making a contribution to the KCE. K.S.A. 74-50,227 requires the collection of certain tax incentive information for publication on a database managed by the Kansas Department of Commerce. Information collected will include the name and address, including county of the recipient receiving the benefits from the tax incentive program, the annual amount of incentive claimed, distributed or received, qualification criteria for the incentive, and required benchmarks for continued participation in the program and progress made towards the benchmarks. SPECIFIC LINE INSTRUCTIONS Enter all requested information at the top of this schedule. PART A – COMPUTATION OF CREDIT AVAILABLE FROM THIS YEAR’S CONTRIBUTION LINE 1 – Enter the total contribution made to the KCE (Kansas Center for Entrepreneurship) this tax year. LINE 2 – Partners, shareholders or members: Enter the percentage that represents your proportionate share in the partnership, S corporation, LLC or LLP. All other taxpayers: Enter 100%. LINE 3 – Multiply line 1 by line 2, and enter the result. LINE 4 – The credit is limited to 75% of the contribution made during this tax year. LINE 5 – Multiply line 3 by line 4. Enter the result on line 5. This is your share of the tax credit for the contributions made this tax year. PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR LINE 6 – Enter the amount of available carryforward credit from the prior year’s Schedule K-31. LINE 7 – Add amounts on line 5 and 6 and enter the result. LINE 8 – Enter your total Kansas tax liability after all credits other than this credit. LINE 9 – Enter the lesser of lines 7 or 8. This is the amount of credit allowed for this tax year. Enter this amount on the appropriate line of Form K-40, K-41, K-120 and K-130. PART C – COMPUTATION OF CARRYFORWARD CREDIT LINE 10 – Subtract line 9 from line 7. This is the amount of credit to carry forward and enter on line 6 of next year’s Schedule K-31. IMPORTANT: Do not send any enclosures with this schedule. A copy of the approved authorization from the KCE must be kept with your records. The Kansas Department of Revenue reserves the right to request additional information as necessary. TAXPAYER ASSISTANCE Questions about the KCE should be addressed to: Kansas Center for Entrepreneurship PO Box 877 Andover, KS 67002 Toll Free Phone: 877-521-8600 networkkansas.com For assistance in completing this schedule contact the Kansas Department of Revenue: Taxpayer Assistance Center Scott O ce Building 120 SE 10th Ave PO Box 750260 Topeka KS 66699-0260 Phone: 785-368-8222 Fax: 785-291-3614 Additional copies of this credit schedule and other tax forms are available from our website at: ksrevenue.gov
K-31 Center for Entrepreneurship Credit Rev. 1-22
More about the Kansas Form K-31 Corporate Income Tax Tax Credit TY 2023
We last updated the Center for Entrepreneurship Credit in February 2024, so this is the latest version of Form K-31, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form K-31 directly from TaxFormFinder. You can print other Kansas tax forms here.
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TaxFormFinder has an additional 73 Kansas income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form K-4 | Employees Withholding Allowance Certificate |
| Form K-120ES | Corporate Estimated Tax Payment Vouchers |
| Form K-41 | Fiduciary Income Tax |
| Form IA-81 | Claim to Support Withholding Tax Credit |
| Form 1041V | Fiduciary Income Tax Voucher |
View all 74 Kansas Income Tax Forms
Form Sources:
Kansas usually releases forms for the current tax year between January and April. We last updated Kansas Form K-31 from the Department of Revenue in February 2024.
Form K-31 is a Kansas Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Kansas Form K-31
We have a total of eleven past-year versions of Form K-31 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form K-31
K-31 Center for Entrepreneurship Credit Rev. 1-22
2022 Form K-31
K-31 Center for Entrepreneurship Credit Rev. 1-22
2021 Form K-31
K-31 Center for Entrepreneurship Credit Rev. 8-20
2020 Form K-31
K-31 Center for Entrepreneurship Credit Rev. 8-20
2019 Form K-31
K-31 Kansas Center for Entrepreneurship Credit Rev. 7-19
2018 Form K-31
K-31 Kansas Center for Entrepreneurship Credit
2017 Form K-31
K-31 Kansas Center for Entrepreneurship Credit
2016 Form K-31
K-31 Kansas Center for Entrepreneurship Credit
2015 Form K-31
Center for Entrepreneurship Credit K-31 (Rev. 9-10)
2013 Form K-31
Center for Entrepreneurship Credit K-31 (Rev. 9-10)
2011 Form K-31
Center for Entrepreneurship Credit K-31 (Rev. 9-10)
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