Kansas Combined Declaration and Assignment
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How to fill out Combined Declaration And Assignment?
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FAQ
Kansas does not have a separate extension request form. If you are entitled to a refund, an extension is not required to file the return after the original due date. To pay the balance due for an extension, use the Kansas Corporate Payment Voucher (K-120V) and mark the box indicating an extension payment.
Each corporation filing a Kansas income tax return using the combined income method of reporting with more than one entity of the combined group doing business in Kansas, may report the total Kansas combined income and pay the tax due by filing one Kansas income tax return.
In fact, most of the states that use market-based rules for sourcing sales of services have also adopted a single-factor sales apportionment formula. Examples include California (elective), Georgia, Illinois, Iowa, Maine, Michigan, Minnesota (post-2013), Utah (post-2012, for certain industries), and Wisconsin.
Corporations may opt to use a two-factor (sales and property) apportionment formula to calculate tax liability if the payroll factor for a taxable year exceeds 200 percent of the average of the property and sales factors.
Apportionment is the determination of the percentage of a business' profits subject to a given jurisdiction's corporate income or other business taxes. U.S. states apportion business profits based on some combination of the percentage of company property, payroll, and sales located within their borders.
Therefore, while Kansas NOLs incurred after Dec. 31, 2017, may now be carried forward indefinitely, the federal 80% limitation added by the TCJA and the CARES Act's temporary suspension of this limitation for NOLs carried forward to 2019 and 2020 will apply for Kansas income tax purposes.
Corporate income tax is assessed against every corporation doing business in Kansas or deriving income from sources within Kansas.
What is the standard Kansas apportionment formula? Corporations that have taxable income from business activity both in and outside Kansas must assign business to Kansas using an equally weighted three-factor apportionment formula consisting of a property factor, payroll factor, and sales factor.