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Does Kansas accept federal extension for partnerships?

Kansas accepts the federal extension of time and will follow accordingly. The extension of time is to file the return not pay the tax. Ninty percent of the tax must be paid by the due date to avoid late payment penalty.

What is the corporate tax rate in Kansas?

Kansas has a 4.00 percent to 7.00 percent corporate income tax rate. Kansas has a 6.50 percent state sales tax rate, a max local sales tax rate of 4.00 percent, and an average combined state and local sales tax rate of 8.70 percent. Kansas's tax system ranks 24th overall on our 2022 State Business Tax Climate Index.

What is ak120?

Corporation Income Tax (K-120) - 2021. Corporate Income Tax Instructions - 2021. Corporate Income Tax Payment Voucher (K-120V) - 2021.

What is the Kansas expensing deduction?

You may elect to take an expensing deduction from Kansas net income apportioned or allocated to this state for the cost of the following property placed in service in this state during the taxable year: 1) Tangible property eligible for depreciation under the modified accelerated cost recover system in section 168 of ...