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Kansas Integrated Coal Gasification Power Plant Credit
Extracted from PDF file 2023-kansas-form-k-80.pdf, last modified October 2010Integrated Coal Gasification Power Plant Credit
K-80 (Rev.8-18) 194318 KANSAS INTEGRATED COAL GASIFICATION POWER PLANT CREDIT 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 PARTA only in the year the new integrated coal gasification power plant or the expansion of an existing integrated coal gasification power 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 integrated coal gasification 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, by checking the appropriate box, 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-80 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-80. 13. _______________ 14a. Total credit available this tax year. Add lines 12 and 13 and enter result: _______________. Multiply the amount on 14a by 90% and enter the result on line 14b. 14b. _______________ 15a. Amount of your Kansas t ax liability for this tax year to be applied against this credit: _____________. Multiply the amount on line 15a by 90% and enter the result on line 15b. 15b. _______________ 16. Amount of credit allowable this tax year. Enter the lesser of lines 14b or 15b. 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 14a, complete PART C. PART C – COMPUTATION OF CARRY FORWARD CREDIT 17. Amount of credit to carry forward to next year’s Schedule K-80. Subtract line 15a from line 14a. Enter this amount on line 13 of next year’s Schedule K-80. INSTRUCTIONS FOR SCHEDULE K-80 GENERAL INFORMATION K.S.A. 79-32,239 provides a tax credit against the Kansas income tax liability of a taxpayer who makes a “qualified investment” in an “integrated coal gasification power 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 integrated coal gasification power plant or the expansion of an existing integrated coal gasification power plant. Before making a qualified investment, a taxpayer shall apply to the Kansas Corporation Commission to enter into an agreement for a tax credit. After receipt of such application, the Kansas Corporation Commission may enter into an agreement with the applicant for a integrated coal gasification power plant credit if the Commission determines that the taxpayer’s proposed investment satisfies the requirements. 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. Expenditures used to qualify for this credit shall not be used to qualify for any other type of Kansas income tax credit. Expansion of an existing integrated coal gasification power plant means expansion which begins after December 31, 2005, of the capacity of an existing integrated coal gasification power plant by at least 10% of such capacity. Integrated coal gasification power plant means a facility which: 1) Is located in Kansas, 2) converts coal into synthesis gas that can be used as a fuel to generate energy and 3) uses the synthesis gas as a fuel to generate electric energy. New integrated coal gasification power plant means an integrated coal gasification power plant, construction of which begins after December 31, 2005. Qualified investment means expenditures made in construction of a new integrated coal gasification power plant or in expansion of an existing integrated coal gasification power plant, for real and tangible personal property incorporated in and used as part of such plant. SPECIFIC LINE INSTRUCTIONS 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 integrated coal gasification power plant or in the expansion of an existing integrated coal gasification power 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 integrated coal gasification power plant or in the expansion of an existing integrated coal gasification power 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. 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%. LINE 11 – Your share of the credit. Multiply line 9 by line 10, and enter the result. PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR 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-80 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-80. LINE 14a – Add lines 12 and 13 and enter the result. LINE 14b—Multiply the amount on line 14a by 90% (.90) and enter the result. LINE 15a – Enter your total Kansas tax liability for this tax year. If you are filing more than one (1) credit schedule this year, enter only the amount of tax liability you wish to apply to this credit. The amount entered on line 15a (and not line 15b) is the amount of tax liability considered to be “used” when calculating the remaining tax liability to be applied against other credits. Example: If your tax liability is $1,000 (before applying the 90% reduction) and the amount entered on line 15a is $400, then the amount of tax liability available to apply to any other credit schedules would be $600. LINE 15b—Multiply the amount on line 15a by 90% (.90) and enter the result. LINE 16 – Enter the lesser of lines 14b or 15b. 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. If line 16 is less than line 14a, complete PART C. PART C – COMPUTATION OF CARRY FORWARD CREDIT LINE 17 – Subtract line 15a from line 14a. This is the amount of credit to carry forward to next year’s Schedule K-80. IMPORTANT: Do not send any enclosures with this schedule. A copy of the approved authorization from the Kansas Corporation Commission must be kept with your records. The Kansas Department of Revenue reserves the right to request additional information as necessary. TAXPAYER ASSISTANCE Address questions about qualifying for this credit to: Kansas Corporation Commission 1500 SW Arrowhead Road Topeka, KS 66604 (785) 271-3100 kcc.state.ks.us For assistance in completing this schedule contact the Kansas Department of Revenue: Taxpayer Assistance Center 120 SE 10th St PO Box 758571 Topeka, KS 66675-8571 Phone: (785) 368-8222 Fax: (785) 291-3614 Additional copies of this income tax credit schedule and other tax forms are available from our web site at: ksrevenue.org
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
More about the Kansas Form K-80 Corporate Income Tax Tax Credit TY 2023
We last updated the Integrated Coal Gasification Power Plant Credit in February 2024, so this is the latest version of Form K-80, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form K-80 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-80 from the Department of Revenue in February 2024.
Form K-80 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-80
We have a total of eleven past-year versions of Form K-80 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2022 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2021 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2020 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2019 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2018 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2017 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2016 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2015 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2013 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
2011 Form K-80
Integrated Coal Gasification Power Plant Credit K-80 (Rev. 9-10)
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