Kansas Form K 30 – Fill Out and Use This PDF

GENERAL INSTRUCTIONS

SPECIFIC LINE INSTRUCTIONS

K.S.A. 74-8133 provides a tax credit against the income or

PART A —GENERAL INFORMATION

premium tax of any angel investor for a cash investment in the

LINES 1 through 6 – Complete the information for the qualified

qualified securities of a qualified Kansas business.

Kansas business and original investor as requested.

Before an angel investor may be entitled to receive tax credits,

such investor must have made a cash investment in a qualified

PART B —COMPUTATION OF CREDIT FOR THIS YEAR’S INVESTMENT

security of a qualified Kansas business. The investment must be

LINE 7 – Enter total amount of cash investment made this tax year.

made in a business that has been approved by KTEC (Kansas

LINE 8 – This percentage determines the maximum credit allowable

Technology Enterprise Corporation) as a qualified business prior

as a result of the investment made during this tax year. Do not

to the date on which the cash investment is made. For information

make an entry on this line.

and assistance regarding the approval of a qualified Kansas

LINE 9 – Multiply line 7 by line 8 and enter the result. This is the

business, contact KTEC at (785) 296-5272.

maximum credit allowable.

The credit is 50% of such investors’ cash investment in any

LINE 10 – Partners, shareholders or members: Enter the percentage

qualified Kansas business, subject to the following limitations:

that represents your proportionate share in the partnership, S

• No tax credits will be allowed for more than $50,000 for a single

corporation, LLC or LLP. All other taxpayers: Enter 100%.

Kansasbusinessoratotalof$250,000intaxcreditsforasingle

LINE 11 – Multiply line 9 by line 10 and enter result. This is your

year per investor who is a natural person or owner of a

share of the total credit for the amount invested this year.

permitted entity investor.

PART C —COMPUTATION OF TOTAL CREDIT CLAIMED THIS TAX YEAR

• No tax credits shall be allowed for any cash investments in

LINE 12 – Enter the carry forward amounts available from prior

qualified securities for any year after the year 2016.

•

The total amount of tax credits shall not exceed $6,000,000

years’ K-30 schedules and enclose a copy of those schedules.

2010 legislation (SB 430) allows taxpayers that had credits

for tax year 2008 and each tax year thereafter, except that for

earned pursuant to K.S.A. 74-8133 to carry forward to tax

tax year 2011, the total amount of tax credits shall not exceed

year 2011 any reduction that occurred in tax year 2009

$5,000,000.

and/or 2010. Enter those amounts here on line 12.

•

No investor shall claim a credit for cash investments in Kansas

LINE 13 – Add lines 11 & 12 and enter the result.

Venture Capital, Inc.

LINE 14 – Enter your total Kansas tax liability for the current tax

•

No Kansas venture capital company shall qualify for the tax

year after all credits other than the credit allowed for

credit for an investment in a fund created by articles 81, 82,

investments made during this tax year.

83 or 84 of chapter 74 of the Kansas Statutes Annotated.

LINE 15 – Enter the lesser of line 13 or line 14. Enter this amount

If the amount by which that portion of the credit allowed by this

on the appropriate line of Form K-40.

section exceeds the investors’ liability in any one taxable year, the

PART D —COMPUTATION OF CARRY FORWARD CREDIT

remaining portion of the credit may be carried forward until the total

amount of the credit is used. If the investor is a permitted entity

LINE 16 – Subtract line 15 from line 13 and enter result. This

investor, the credit provided by this section shall be claimed by the

amount cannot be less than zero. Enter this amount on next

owners of the permitted entity investor in proportion to their

year’s Schedule K-30.

ownership share of the permitted entity investor.

Subject to certain restrictions this credit may be transferred to

IMPORTANT: Do not send any enclosures with this

schedule. A copy of the approved KTEC certification

another taxpayer. Contact KTEC at (785) 296-5272 for more

form must be kept with your records. If this is a credit

information.

that has been transferred, documentation of the approved transfer

“Angel investor’’and ‘‘investor’’meanYXWVUTSRan accredited investor

as provided by KDOR (Kansas Department of Revenue) must be

who is a natural person or an owner of a permitted entity investor,

retained with your records. KDOR reserves the right to request

who is of high net worth, as defined in 17 C.F.R. 230.501(a) as in

additional information as necessary.

effect on the effective date of this act, and who seeks high returns

through private investments in start-up companies and may seek

TAXPAYERASSISTANCE

active involvement in business, such as consulting and mentoring

For assistance in completing this schedule contact the Kansas

the entrepreneur.

Department of Revenue:

“Cash investment” means money or money equivalent in

Tax Operations

consideration for qualified securities.

Docking State Office Building, 1st fl.

“Permittedentityinvestor”means any: a) general partnership,

915 SW Harrison St.

limited partnership, corporation that has in effect a valid election

Topeka, KS 66625-2007

to be taxed as an S corporation under the United States Internal

Phone: (785) 368-8222

Revenue Code, or a limited liability company that has elected to

Fax: (785) 291-3614

be taxed as a partnership under the United States Internal Revenue

Code; and, b) that was established and is operated for the sole

Additional copies of this credit schedule and other tax forms

purpose of making investments in other entities.

are available from our web site at: ksrevenue.org