INSTRUCTIONS FOR SCHEDULE K-60
K.S.A. 79-32,195 et seq. provides for an income, privilege or
premiums tax credit for contributions to an approved community
service organization engaged in providing community services.
Programs and organizations eligible to offer this credit to
their contributors are approved by the Director of Community
Development of the Kansas Department of Commerce (KDOC).
The credit is either 50% of the total amount contributed during
the taxable year, or 70% of the total amount contributed during
the taxable year if the approved community service organization
is located in a rural community as dened in the law. If the credit
allowed exceeds the tax liability, the excess will be refunded.
Exception: A business rm who acquired the tax credit from
a business rm not subject to Kansas income, privilege or
premiums tax must carry forward the unused assigned credit. The
credit may be carried forward for up to 5 years, except that the
total credit must be claimed within 10 years after the tax year the
contribution was made.
Addition Modication Required. Taxpayers claiming this
credit (except those claiming an assigned credit) must make an
addition modication on the Kansas return for the amount of any
charitable contribution claimed on the federal return and used as
the basis for the Community Service Contribution Credit.
Assigned Credits. If you are claiming a credit that was sold,
assigned, or conveyed to you by a business rm not subject to
Kansas tax, you must enclose with Schedule K-60 copies of the
written agreement assigning the credit, the notication sent to
the Director of Community Development, KDOC, as well as the
acknowledgment letter received from KDOC.
If you are claiming a new community service contribution
credit for contributions made this tax year, you will receive
an approval from the community service organization
eligible to offer this credit. This approval may be an approved
tax credit application or a tax credit certicate. Be sure to keep
a copy for your records as the Kansas Department of Revenue
reserves the right to request any certications or copies of written
agreements as necessary.
SPECIFIC LINE INSTRUCTIONS
Complete a separate Schedule K-60 for each community
service organization you contributed to during the tax year.
PART A – COMPUTATION OF CREDIT FOR THIS YEAR’S CONTRIBUTION
LINE 1 – Enter the total contributions made to the community
service organization 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:
LINE 3 – Multiply line 1 by line 2, and enter the result on line 3.
This is your share of the contributions made and claimed as
the basis for the credit this tax year. Enter this amount on
LINE 4 – Circle the credit percentage that was authorized by the
Kansas Department of Commerce.
LINE 5 – Multiply line 3 by line 4. Enter the result on line 5. This is
the maximum allowable credit.
PART B – COMPUTATION OF THIS YEAR’S CREDIT
LINE 6 – Enter the amount of any carry forward available from
a prior year’s Schedule K-60. Enclose a copy of your prior
year’s Schedule K-60.
LINE 7 – Add lines 5 and 6 and enter the result. This is the total
credit available for this tax year.
LINE 8 – Enter your total Kansas tax liability after all credits other
than this credit. This is the maximum amount of credit allowed
as a result of contributions made this tax year. (K-120 lers
will enter this amount in Part I of Form K-120 if the credit is not
an assigned credit or one not eligible for refund.)
– Enter the lesser of lines 7 or 8. Enter this amount on the
appropriate line of your return.
PART C – COMPUTATION OF REFUNDABLE PORTION OF CREDIT
If you are claiming this credit based on contributions made after
December 31, 1997, complete Part C. However, if you are claiming
an assigned credit, skip line 10 and complete line 11.
LINE 11 – Subtract line 9 from line 7. This is the excess credit to
be refunded. Enter this amount on the line provided on your
return for the refundable portion of tax credits.
PART D – COMPUTATION OF CREDIT CARRY FORWARD
(certain taxpayers only)
You must use Part D if you are a business rm who acquired
the tax credit from a business rm not subject to Kansas income,
privilege, or premiums tax. Assigned credits must be carried
forward – they are not eligible for refund.
LINE 10 – Subtract line 9 from line 7 (cannot be less than zero).
This is the amount of credit you have available to enter on
next year’s Schedule K-60. Keep a copy of this form to le
with your tax return and Schedule K-60 for next year.
Questions about the community service organizations eligible
to offer this credit to their contributors should be addressed to:
Kansas Department of Commerce
Director of Community Development
1000 SW Jackson, Suite 100
Topeka, KS 66612-1354
For assistance in completing this schedule contact the Kansas
Department of Revenue:
Taxpayer Assistance Center
Scott Office Building
120 SE 10th Ave.
PO Box 3506
Topeka, KS 66601-3506
Additional copies of this credit schedule and other tax forms are
available from our website at: ksrevenue.org