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Kansas Agritourism Liability Insurance Credit
with TurboTaxExtracted from PDF file 2023-kansas-form-k-33.pdf, last modified July 2023Agritourism Liability Insurance Credit
K-33 (Rev. 7-23) KANSAS AGRITOURISM LIABILITY INSURANCE CREDIT For the taxable year beginning, _____________________ , 20 _____ ; ending Name of taxpayer (as shown on return) __________________________ , 20 K-33 Attach 190218 _______ . Employer ID Number (EIN) IMPORTANT: Do not send any enclosures with this schedule. A copy of the certificate issued by the Kansas Department of Commerce must be kept with your records. The Kansas Department of Revenue reserves the right to request additional information as necessary. PART A – COMPUTATION OF CREDIT AVAILABLE FOR THIS YEAR’S EXPENDITURES (C Corporations only) 1. Cost of liability insurance paid during this taxable year (C Corporations only). 1. ____________________________ Insurance Agent’s Name ________________________________________________________________________ Phone Number ________________________________ Insurance Company Name _____________________________________________________________________ Policy Number ________________________________ I hereby certify that the amount of liability insurance entered on line 1 above is the total amount paid during this tax year for the property that is actually utilized in the Taxpayer’s Registered Agritourism Operation and meets the eligibility requirement for claiming this credit as set out in Kansas Administration Regulation 115-40-1 et seq. Signature of Agent ____________________________________________________________________________________ Date __________________________________ 20% 2. Credit percentage allowed ........................................................................................................................ 2. ____________________________ 3. Credit for this year’s liability insurance (multiply line 1 by line 2) .............................................................. 3. ____________________________ 4. Enter the amount of available carry forward from the prior year’s Schedule K-33. ................................... 4. ____________________________ 5. Total credit available for this tax year (add line 3 and line 4) .................................................................... 5. ____________________________ $2,000 6. Maximum credit allowable per tax year ..................................................................................................... 6. ____________________________ 7. Credit for this tax year (enter the lesser of line 5 or line 6)........................................................................ 7. ____________________________ PART B – COMPUTATION OF THIS YEAR’S CREDIT (C Corporations only) 8. Total Kansas tax liability for this year after all credits other than this credit .............................................. 8. ____________________________ 9. Agritourism liability insurance credit for this year (enter the lesser of line 7 or line 8 here and in Part I of Form K-120)................................................................................................................................. 9. ____________________________ If line 8 is less than line 7, complete Part C. PART C – COMPUTATION OF EXCESS CREDIT CARRY FORWARD 10. Subtract line 9 from line 7 and enter the result. This is the amount of carry forward available to enter on next year’s Schedule K-33 ........................................................................................................ 10. ____________________________ INSTRUCTIONS FOR SCHEDULE K-33 GENERAL INFORMATION K.S.A. 32-1438 and 32-1438a provides for an income tax credit equal to 20% of the cost of liability insurance paid by a registered agritourism operator who operates an agritourism activity. The maximum credit allowed is $2,000 per tax year. An agritourism business must register with the Kansas Department of Commerce and receive a certificate of eligibility to claim this income tax credit. Registered agritourism businesses who begin operating on or after July 1, 2004 may claim this credit for the first five taxable years the agritourism business is open. If the credit exceeds the taxpayer’s income tax liability for the tax year, the excess credit may be carried forward to the next succeeding year or years until the total amount of tax credit has been used, except that no credit may be carried over for deduction after the third taxable year succeeding the taxable year in which the credit is earned. For tax year 2013, and all tax years thereafter, new credits shall be available to only corporations that are subject to the Kansas corporate income tax (i.e., C Corporations). New credits are not available to individuals, partnerships, S corporations, limited liability companies, and other pass-through entities. Carry Forward of Unused Credits: If this credit was earned prior to tax year 2013 and a carry forward credit remains available to a taxpayer, that taxpayer may continue to claim that credit. However, that carry forward credit shall be subject to limitations and requirements in place at the time the credit was earned. SPECIFIC LINE INSTRUCTIONS IMPORTANT: An agritourism business must be registered with the Kansas Department of Commerce to be eligible for this tax credit. Complete all information at the top of the schedule. PART A – COMPUTATION OF CREDIT AVAILABLE FOR THIS YEAR’S EXPENDITURES LINE 1 (C Corporations only) – Enter total amount paid for liability insurance during this tax year as a direct expense of operating an agritourism operation registered with the Kansas Department of Commerce Your insurance agent must certify that the liability insurance meets the eligibility criteria for claiming this credit as set out in Kansas Administrative Regulation 115-40-1 et seq., specifically that the amount entered on line 1: 1) was paid during this tax year; 2) is limited to only the parcel(s) of real property employed in the agritourism operation; and, 3) is the cost of specific liability insurance for the agritourism operation that is in addition to existing liability insurance coverage. LINE 2 – The credit amount is 20% of the cost of liability insurance paid by a registered agritourism operator during the tax year LINE 3 – Multiply line 1 by line 2, and enter the result. This is the credit available for this year’s expenditures. LINE 4 – Enter the amount of any credit carry forward from a prior year’s Schedule K-33. (There will not be an entry on this line in the first year.) LINE 5 – Add line 3 and line 4. This is the total credit available for this tax year. LINE 6 – The maximum credit allowable for any tax year is $2,000. LINE 7 – Enter the lesser of line 5 or line 6. This is the credit for this tax year. PART B – COMPUTATION OF THIS YEAR’S CREDIT LINE 8 – Enter your Kansas tax liability for this tax year after all credits other than this credit. LINE 9 – Enter the lesser of line 7 or line 8. Enter amount here and in Part I of Form K-120. If line 8 is LESS than line 7, complete Part C. PART C – COMPUTATION OF EXCESS CREDIT CARRY FORWARD LINE 10 – Subtract line 9 from line 7. Do not enter an amount less than zero. This is the carry forward credit available to enter on next year’s Schedule K-33. IMPORTANT: Do not send enclosures with this credit schedule. Keep a copy of the certificate issued by the Kansas Department of Commerce with your records. The Kansas Department of Revenue reserves the right to request additional information as necessary to verify your tax credit. TAXPAYER ASSISTANCE For information and assistance regarding the establishment or operation of an agritourism activity contact: Kansas Department of Commerce 1000 SW Jackson, Ste 100 Topeka, Ks 66612 Phone: 785-230-4299 Website: travelks.com For assistance in completing this schedule contact the Kansas Department of Revenue: Taxpayer Assistance Center Scott Office Building 120 SE 10th Ave. PO Box 750260 Topeka, KS 66699-0260 Phone: 785-368-8222 Fax: 785-291-3614 Additional copies of this credit schedule and other tax forms are available from our website at: ksrevenue.gov
K-33 Kansas Agritourism Insurance Credit_Rev_07-23
More about the Kansas Form K-33 Corporate Income Tax Tax Credit TY 2023
We last updated the Agritourism Liability Insurance Credit in February 2024, so this is the latest version of Form K-33, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form K-33 directly from TaxFormFinder. You can print other Kansas tax forms here.
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TaxFormFinder has an additional 73 Kansas income tax forms that you may need, plus all federal income tax forms.
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Form Sources:
Kansas usually releases forms for the current tax year between January and April. We last updated Kansas Form K-33 from the Department of Revenue in February 2024.
Form K-33 is a Kansas Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Kansas Form K-33
We have a total of eleven past-year versions of Form K-33 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form K-33
K-33 Kansas Agritourism Insurance Credit_Rev_07-23
2022 Form K-33
K-33 Kansas Agritourism Insurance Credit Rev. 8-19
2021 Form K-33
K-33 Kansas Agritourism Insurance Credit Rev. 8-19
2020 Form K-33
K-33 Kansas Agritourism Insurance Credit Rev. 8-19
2019 Form K-33
K-33 Kansas Agritourism Insurance Credit Rev. 8-19
2018 Form K-33
K-33 Kansas Agritourism Insurance Credit
2017 Form K-33
K-33 Kansas Agritourism Insurance Credit
2016 Form K-33
K-33 Kansas Agritourism Insurance Credit
2015 Form K-33
Agritourism Liability Insurance Credit K-33 (Rev. 7-14)
2013 Form K-33
K-33 Agritourism Liability Insurance Credit (Rev. 9-13)
2011 Form K-33
K-33 Agritourism Liability Insurance Credit (Rev. 8-11)
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