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Kansas Cellulosic Alcohol Plant Credit
Extracted from PDF file 2023-kansas-form-k-79.pdf, last modified January 2012Cellulosic Alcohol Plant Credit
192618 K-79 KANSAS BIOMASS-TO-ENERGY PLANT CREDIT (Rev. 8-19) 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) PART A – COMPUTATION OF CREDIT Complete PART A only in the year the new biomass-to-energy plant or the expansion of the capacity of an existing biomass-to-energy plant has been placed into service. 1. Enter the total amount of the qualified investment. Do not enter more than $250,000,000. 1. _______________ 2. Authorized credit percentage. 2. 10% _______________ 3. Credit limit on the qualified investment of $250,000,000 or less. Multiply line 1 by line 2. 3. _______________ 4. Enter the total amount of the qualified investment that exceeds $250,000,000. 4. _______________ 5. Authorized credit percentage. 5. 5% _______________ 6. Credit limit on the qualified investment that exceeds $250,000,000. Multiply line 4 by line 5. 6. _______________ 7. Credit limit on the total qualified investment. Add line 3 and line 6. 7. _______________ 8. Authorized credit percentage allowed to be claimed each tax year. 8. 10% _______________ 9. Total credit allowed to be claimed in the year the biomass-to-energy plant is placed into service. Multiply line 7 by line 8. 9. _______________ 10. Proportionate share percentage (see instructions). 10. _______________ 11. Your share of the credit that may be claimed this tax year and the next subsequent nine (9) tax years. Multiply line 9 by line 10. 11. _______________ PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR Indicate which year of the ten (10) equal, annual installments for which this credit is being claimed: 1st year 2nd year 3rd year 4th year 5th year 6th year 7th year 8th year 9th year 10th year If the credit is being claimed for the “carry-over” 11th, 12th, 13th or 14th tax years, skip line 12 and make an entry on line 13. 12. Enter the amount from line 11, Schedule K-79 from the first year in which this credit was claimed. 12. ________________ 13. Enter the amount of available carry forward credit from the prior year’s Schedule K-79. 13. ________________ 14. Total credit available this tax year. Add lines 12 and 13. 14. ________________ 15. Amount of your Kansas tax liability for this tax year after all credits other than this credit. 15. ________________ 16. Amount of credit allowable this tax year. Enter the lesser of lines 14 or 15. Enter this amount on the appropriate line of Form K-40, Form K-41 or Form K-120. 16. ________________ 17. ________________ If line 16 is less than line 14, complete PART C. PART C – COMPUTATION OF CARRY FORWARD CREDIT 17. Amount of credit to carry forward to next year’s Schedule K-79. Subtract line 16 from line 14. Enter this amount on line 13 of next year’s Schedule K-79. INSTRUCTIONS FOR SCHEDULE K-79 GENERAL INFORMATION K.S.A. 79-32,234 provides a tax credit against the Kansas income tax liability of a taxpayer who makes a qualified investment in a biomassto-energy plant for tax years beginning after December 31, 2005 and before January 1, 2011. The credit is 10% of the taxpayer’s qualified investment on the first $250,000,000 invested, and 5% of the taxpayer’s qualified investment that exceeds $250,000,000. The credit will be taken in ten (10) equal, annual installments, beginning with the year in which the taxpayer places into service the new biomass-to-energy plant or the expansion of an existing biomass-to-energy plant. LINE 5 – The credit is limited to 5% of the qualified investment that exceeds $250,000,000. LINE 6 – Credit limit on the qualified investment that exceeds $250,000,000. Multiply line 4 by line 5, and enter the result. LINE 7 – Credit limit on the total qualified investment. Add line 3 and line 6, and enter the result. LINE 8 – Authorized credit percentage. This credit may be claimed in ten (10) equal annual installments. LINE 9 – Total credit allowed to be claimed this tax year. Multiply line 7 by line 8, and enter the result. Before making a qualified investment, a taxpayer shall apply to the Secretary of Commerce to enter into an agreement for a tax credit. After receipt of application, the Secretary of Commerce may enter into an agreement with the applicant for a biomass-to-energy plant credit if it is determined that the taxpayer’s proposed investment satisfies the requirements. LINE 10 – 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%. If the credit allowed exceeds the investor’s tax liability in any one taxable year, the amount of the credit that exceeds the tax liability may be carried forward until the total amount of the credit is used, except that no such tax credit shall be carried over for deduction after the 14th taxable year after the taxable year in which the first annual installment is allowed. PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR Expenditures used to qualify for this credit shall not be used to qualify for any other type of Kansas income tax credit. Biomass means any organic matter available on a renewable or recurring basis, including solid and liquid organic waste, but excluding: (1) Petroleum oil, natural gas, coal and lignite, and any products thereof; and (2) corn or grain sorghum suitable for human consumption. LINE 11 – Your share of the credit. Multiply line 9 by line 10, and enter the result. Indicate, by checking the appropriate box, which year of the annual installments for which this credit is being claimed. LINE 12 – Enter the amount from line 11, Schedule K-79 from the first year in which this credit was claimed. LINE 13 – Enter the amount of available carry forward credit from the prior year’s Schedule K-79. LINE 14 – Total credit available. Add line 12 and 13, and enter the result. LINE 15 – Enter your tax liability after all credits other than this credit. Biomass-to-energy plant means an industrial process plant, located in this state, where biomass is processed to produce annually any of the following, and coproducts: (1) Not less than 500,000 gallons of cellulosic alcohol; (2) liquid or gaseous fuel or energy in a quantity having BTU value equal to or greater than 500,000 gallons of cellulosic alcohol; or (3) oil produced for direct conversion into fuel in a quantity having BTU value equal to or greater than 500,000 gallons of cellulosic alcohol. LINE 16 – Enter the lesser of lines 14 or 15. This is the amount of credit allowed for this tax year. Enter this amount on the appropriate line of Form K-40, Form K-41 or Form K-120. Expansion of an existing biomass-to-energy plant means expansion which begins after December 31, 2005, of the capacity of an existing biomass-to-energy plant by at least 10% of such capacity. LINE 17 – Subtract line 16 from line 14. This is the amount of credit to carry forward to next year’s Schedule K-79. New biomass-to-energy plant means a biomass-to-energy plant, construction of which begins after December 31, 2005. IMPORTANT: Do not send any enclosures with this schedule. A copy of the approved authorization from the Secretary of Commerce must be kept with your records. The Kansas Department of Revenue reserves the right to request additional information as necessary. Qualified investment means expenditures made in construction of a new biomass-to-energy plant or in expansion of the capacity of an existing biomass-to-energy plant, for real and tangible personal property incorporated in and used as part of such plant. If line 16 is less than line 14, complete PART C. PART C – COMPUTATION OF CARRY FORWARD CREDIT TAXPAYER ASSISTANCE SPECIFIC LINE INSTRUCTIONS Address questions about qualifying for this credit to: Enter all requested information at the top of this schedule. PART A – COMPUTATION OF CREDIT (To be completed only in the first year that this credit is claimed) LINE 1 – Enter the total qualified investment up to and including the first $250,000,000 made in the construction of a new biomass-to-energy plant or in the expansion of the capacity of an existing biomass-toenergy plant. LINE 2 – The credit is limited to 10% of the first $250,000,000 of qualified investment. LINE 3 – Credit limit on the qualified investment for the first $250,000,000. Multiply line 1 by line 2, and enter the result. LINE 4 – Enter the total qualified investment which exceeds the first $250,000,000 of investment made in the construction of a new biomass-to-energy plant or in the expansion of the capacity of an existing biomass-to-energy plant. Kansas Department of Commerce 1000 SW Jackson, Suite 100 Topeka KS 66612-1354 785-296-3481 http://kdoch.state.ks.us For assistance in completing this schedule contact the Kansas Department of Revenue: Taxpayer Assistance 120 SE 10th Ave PO Box 750260 Topeka KS 66699-0260 Phone: 785-368-8222 Fax: 785-291-3614 Additional copies of this income tax credit schedule and other tax forms are available from our website at: ksrevenue.org
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
More about the Kansas Form K-79 Corporate Income Tax Tax Credit TY 2023
We last updated the Cellulosic Alcohol Plant Credit in February 2024, so this is the latest version of Form K-79, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form K-79 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-79 from the Department of Revenue in February 2024.
Form K-79 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-79
We have a total of eleven past-year versions of Form K-79 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form K-79
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
2022 Form K-79
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
2021 Form K-79
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
2020 Form K-79
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
2019 Form K-79
K-79 Biomass-To-Energy Plant Credit Rev. 8-19
2018 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
2017 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
2016 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
2015 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
2013 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
2011 Form K-79
Biomass-To-Energy Plant Credit K-79 (Rev. 9-11)
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