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Kansas Free Printable K-121 Corporation Combined Income Method of Reporting Rev. 9-19_fillable for 2020 Kansas Combined Income Method of Reporting

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Combined Income Method of Reporting
K-121 Corporation Combined Income Method of Reporting Rev. 9-19_fillable

K-121 KANSAS CORPORATION COMBINED INCOME METHOD OF REPORTING (Rev. 7-19) 150618 For the taxable year beginning _________________ , 20 ___ , ending ___________________ , 20 ___ Name as shown on Form K-120 PART I Employer Identification Number (EIN) KANSAS COMBINED NET INCOME Enter separate corporate names and federal identification numbers Corporation A Corporation B Eliminations (Explain Below) Combined Income 1. Federal taxable income ................................................................. 2. Total state and municipal interest .................................................. 3. Taxes on or measured by income or fees or payments in lieu of income taxes.................................................................................. 4. Federal net operating loss deduction............................................. 5. Other additions to federal taxable income (enclose schedule) ...... 6. Total (add lines 1 through 5) .......................................................... 7. Interest on U.S. government obligations........................................ 8. IRC Section 78 and 80% of foreign dividends (enclose schedule) 9. Other subtractions from federal taxable income (enclose schedule) 10. Total subtractions (add lines 7, 8, & 9)........................................... 11. Net income before apportionment (subtract line 10 from line 6) .... 12. Nonbusiness income—Total company (enclose schedule) ........... 13. Apportionable business income (subtract line 12 from line 11) ..... 14. Percent to Kansas (from line 6, Part II).......................................... 15. Amount to Kansas (line 14, Corp. A & B multiplied by line 13 combined income) ......................................................................... 16. Nonbusiness income—Kansas (enclose schedule)....................... 17. Kansas expensing recapture (see instructions for K-120EX) ........ 18. Kansas expensing deduction (see instructions for K-120EX) ........ 19. Kansas net income (add lines 15, 16 and 17; then subtract line 18) 20. Kansas net operating loss deduction (enclose schedule).............. 21. Combined report income (subtract line 20 from line 19; enter result here and on line 21, page 2 of Form K-120) .................................. 22. Normal tax (4% of line 21) ............................................................. 23. Surtax (3% of amount on line 21 in excess of $50,000) ................ 24. Total tax (add lines 22 and 23; enter result here and on line 25, page 2 of Form K-120)................................................................... Explanation of Eliminations: ENCLOSE A COPY OF FEDERAL FORM 851 WITH THIS SCHEDULE Page 18 (Any corporation filing using the combined income method with more than one entity doing business in Kansas may file one Kansas return reporting the total Kansas combined income and tax on that return.) PART II APPORTIONMENT FORMULA FOR FORM K-121 1a. Value of owned real and tangible personal property used in the business at original cost. Corporation A Within Kansas Beginning of Year End of Year Corporation B Within Kansas Beginning of Year End of Year 150718 Total Company Beginning of Year End of Year Percent Within Kansas Inventory........................................................ Depreciable Assets........................................ Land .............................................................. Other Tangible Assets (Enclose schedule).... Less: Construction in Progress ..................... Total Property to be Averaged ....................... Average Owned Property (Beg. + End + 2) 1b. Net annual rental property. Multiplied by 8 .... TOTAL PROPERTY Percentage: Corporation A (divide Corporation A by Total Company) ...................................................................................................................... 1A Percentage: Corporation B (divide Corporation B by Total Company) ...................................................................................................................... 1B 2. Wages, salaries, commissions and other compensation of employees related to business income included in return. TOTAL PAYROLL .............................................................. Percentage: Corporation A (divide Corporation A by Total Company) ...................................................................................................................... 2A Percentage: Corporation B (divide Corporation B by Total Company) 2B 3. Sales (gross receipts, less returns and allowances) .......... a. Sales delivered or shipped to purchasers in Kansas: (1) Shipped from outside Kansas ................................... (2) Shipped from within Kansas ..................................... b. Sales shipped from Kansas to: (1) The United States Government ................................ (2) Purchasers in a state where the taxpayer would not be taxable (e.g., under Public Law 86-272) .............. c. Dividends ........................................................................ Interest ............................................................................... Rents .................................................................................. Royalties............................................................................. Gains/losses from intangible asset sales ........................... Gross proceeds from tangible asset sales ......................... Other income (attach schedule) ......................................... TOTAL SALES .................................................................. Percentage: Corporation A (divide Corporation A by Total Company) .................................................................................................................. 3A Percentage: Corporation B (divide Corporation B by Total Company) .................................................................................................................. 3B 4. Total Percent: 5. Total Percent 6. Average Percent: Percentage: Corporation A (divide Corporation A by Total Company) .............................................................. 4A Percentage: Corporation B (divide Corporation B by Total Company)............................................................... 4B Percentage: Corporation A (divide Corporation A by Total Company) .............................................................. 5A Percentage: Corporation B (divide Corporation B by Total Company)............................................................... 5B Percentage: Corporation A (divide Corporation A by Total Company) .............................................................. 6A Percentage: Corporation B (divide Corporation B by Total Company)............................................................... 6B Page 19
Extracted from PDF file 2019-kansas-form-k-121.pdf, last modified October 2019

More about the Kansas Form K-121 Corporate Income Tax TY 2019

We last updated the Combined Income Method of Reporting in March 2020, so this is the latest version of Form K-121, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form K-121 directly from TaxFormFinder. You can print other Kansas tax forms here.

Other Kansas Corporate Income Tax Forms:

TaxFormFinder has an additional 73 Kansas income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form K-41 Fiduciary Income Tax
Form K-4 Employees Withholding Allowance Certificate
Form K-89 Rural Opportunity Zone Credit Instructions
Form K-120ES Corporate Estimated Tax Payment Vouchers
Form K-30 Angel Investor Credit

Download all KS tax forms View all 74 Kansas Income Tax Forms


Form Sources:

Kansas usually releases forms for the current tax year between January and April. We last updated Kansas Form K-121 from the Department of Revenue in March 2020.

Show Sources >

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-121

We have a total of seven past-year versions of Form K-121 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form K-121

K-121 Corporation Combined Income Method of Reporting Rev. 9-19_fillable

2018 Form K-121

K-121 Corporation Combined Income Method of Reporting Return Rev. 7-18_fillable

Corporate Tax 2011 Form K-121

K-121 Combined Income Method of Reporting (Rev. 7-11)


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