Center for Entrepreneurship Credit
Income Taxpayer - Effective for all taxable years commencing after Dec. 31, 2005.
Privilege Taxpayer – Effective for all taxable years commencing after December 31, 2018.
An income tax credit shall be allowed for a contributor that makes a contribution to the Kansas Center for Entrepreneurship (KCE).
A contributor must receive approval from the KCE.
Kansas Center for Entrepreneurship
PO Box 877
Andover, KS 67002
The credit is 75 percent of the total amount of the contribution.
If the credit allowed exceeds the contributor’s tax liability in any one taxable year, the remaining portion of the credit may be carried forward until the total amount of the credit is used.
Limitation of Credit
The tax credit is limited to $100,000 per individual contributor per tax year. The total amount of tax credits shall not exceed $2 million for any one fiscal year, except that for FY 2011, the total amount of credits shall not exceed $1.8 million.
Procedures to Claim the Credit
You may download Schedule K-31 to claim the center for entrepreneurship credit. This schedule must be completed and submitted with the income tax return. You may also call the Department of Revenue voice mail system at 785-296-4937 to request Schedule K-31. You will be asked to give your name, address, phone number and form(s) you desire. Please allow two weeks for delivery of your forms.
Contributor shall mean a person or entity making a contribution to the KCE.
Contribution shall mean the donation of cash or property, other than used clothing, in an amount or value of $250 or more.