Illinois Farming Income

Check the box on line 33a if at least two-thirds of your total federal gross income came from farming. Total federal gross income includes your spouse’s income if your filing status is “married filing jointly.” TIP: Federal gross income from farming “Federal gross income from farming” is the amount of income you received from your participation in the production of [...]

What Forms Must I FIle if I Am A Illinois Part-Year or Nonresident?

If you were a part-year resident, you must file Form IL-1040 and Schedule NR, Nonresident and Part-Year Resident Computation of Illinois Tax, if you earned income from any source while you were a resident, you earned income from Illinois sources while you were not a resident, or you want a refund of any Illinois Income Tax withheld. a nonresident, you must file Form IL-1040 and [...]

Kansas Venture Credit K-55

A credit may be deducted from a taxpayer’s income or privilege tax liability if the taxpayer invests in stock issued by Kansas Venture Capital, Inc. (K.S.A. 74-8205). The taxpayer may also modify from federal taxable income any dividend income on stock issued by Kansas Venture Capital, Inc. The amount of credit is 25% of the total cash investment in such stock. A credit amount that exceeds [...]

Kansas Telecommunications Property/Income Tax Credit K-36

Telecommunications Credit K.S.A. 79-32,210 created an income tax credit for property taxes paid by telecommunication companies on property initially acquired and first placed in service after January 1, 2001 that has an assessment rate of 33%. The credit will be equal to the amount of property taxes timely paid for the difference between an assessment level of 25% and the actual assessment of [...]

Form K-38 - Kansas Swine Facility Improvement Credit

K.S.A. 79-32,204 created the swine facility improvement credit. This income tax credit is 50% of the costs incurred by a taxpayer for required improvements to a qualified swine facility. Any unused credit may be carried forward until used. However, the credit cannot be carried over after the fourth year. This credit is only available to corporations that are subject to the Kansas corporate [...]