Ks k 59 form 2025

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The document is Schedule K-59 for the Kansas High Performance Incentive Program (HPIP) Credits, which outlines the process for taxpayers to claim tax credits related to training and education investments and qualified business facility investments. It includes sections for general information, calculations for training and education credits, investment credits, new investment information, and a carry forward schedule. The HPIP provides tax incentives to qualified firms that invest in employee training and capital improvements, with specific guidelines on eligibility and credit usage.

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Click ‘Get Form’ to open the ks k 59 form in the editor.
Begin by entering the taxable year details at the top of the form, including the start and end dates.
Fill in your name and Social Security Number or Employer ID Number in the designated fields.
In Part A, provide your HPIP certification period and certification number as instructed.
Move to Part B and enter your total qualified cash investment in training and education, followed by payroll expenses.
Calculate the credit amounts by following the multiplication and subtraction instructions provided for each line.
Complete Part C by entering information about your qualified business facility, including address and investment details.
Finally, review all sections for accuracy before saving or exporting your completed form directly from our platform.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Does Kansas have a state income tax form?

Kansas residents and nonresidents of Kansas earning income from Kansas sources are required to annually file an income tax return, K-40.

What is the HPIP statute in Kansas?

The Kansas High Performance Incentive Program (HPIP) provides credits for: capital investments in business facilities in the state; ( Sec. 79-32,160a(e), K.S.A.) and. investments in the training and education of employees at those facilities.

Is Kansas going to stop taxing social security?

Missouri and Nebraska have decided to stop taxing Social Security benefits in 2024. Kansas also joined in with a bill signed midway through 2024, so the state will not tax Social Security going forward.

What is the tax extension form for Kansas?

Kansas tax extensions are automatic, so theres no application form or written request to submit. In order to automatically receive a Kansas extension, you must first obtain a Federal extension (IRS Form 4868). Remember to include a copy of your approved Federal extension with your Kansas tax return when you file.

How do you qualify for HPIP in Kansas?

Your business must be subject to Kansas income, sales or property taxes; meet certain NAICS code requirements; and pay above average wages for the county or industry. The HPIP Investment Credit amount is 10% of project costs above and beyond $50,000 or $1 million, depending on location.

What is the high performance incentive program in Kansas?

The High Performance Incentive Program (HPIP) provides tax incentives to qualifying employers who pay above average wages, along with having a robust commitment to teach skills development for their workers.

Ks k 59 form 2025

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