TaxFormFinder
Kansas Film Production Credit
with TurboTaxExtracted from PDF file 2023-kansas-form-k-86.pdf, last modified September 2011Film Production Credit
193118 K-86 KANSAS FILM PRODUCTION CREDIT (Rev. 8-19) For the taxable year beginning _________________ , 20____ ; ending _________________ , 20____ . Name of taxpayer (as shown on return) Social Security Number or Employer ID Number (EIN) If partner, shareholder or member, enter name of partnership, S corporation, LLC or LLP Employer ID Number (EIN) PART A – COMPUTATION OF CREDIT 1. Total amount of direct production expenditures made by an eligible production company this tax year. 1. _______________ 2. Maximum percentage allowed. 30% 2. _______________ 3. Maximum allowable credit for this tax year (multiply line 1 by line 2). 3. _______________ 4. Proportionate share percentage (see instructions). 4. _______________ 5. Your share of the credit for this year’s expenditures (multiply line 3 by line 4). 5. _______________ PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS TAX YEAR 6. Amount of available carry forward from the prior year’s Schedule K-86. No credit may be carried forward after the third taxable year succeeding the year in which the costs were incurred. 6. _______________ 7. Total credit available (add lines 5 and 6). 7. _______________ 8. Amount of tax liability for current taxable year after all previously claimed credits. 8. _______________ 9. Amount of credit allowable this tax year (enter the lesser of line 7 or line 8). Enter this amount on the appropriate line of Form K-40, K-41 or Form K-120. If line 9 is less than line 7, complete PART C. 9. _______________ PART C – COMPUTATION OF CREDIT CARRY FORWARD 10. Amount of credit to carry forward to next year’s Schedule K-86 (subtract line 9 from line 7). 10. _______________ INSTRUCTIONS FOR SCHEDULE K-86 GENERAL INSTRUCTIONS K.S.A. 79-32,258 provides for a 30% tax credit for tax years commencing after December 31, 2006, against the income tax liability of an eligible film production company for direct production expenditures made in Kansas that are directly attributable to the production of a film in Kansas. The credit allowed shall be deducted from the taxpayer’s income tax liability for the taxable year in which the expenditures are made. If the amount of the credit allowed by this section exceeds the taxpayer’s income tax liability for such taxable year, such excess may be carried over in the succeeding taxable years until the total amount of the credit is used, except that no such tax credit shall be carried over for deduction after the third taxable year succeeding the year in which the costs are incurred. To be eligible for the film production tax credit, a film production company shall submit to the Kansas Department of Commerce (KDOC) information as required by KDOC to demonstrate conformity with the requirements of K.S.A. 79-32,258. The Department of Commerce may reserve a tax credit amount based on the expected direct production expenditures. The Department of Revenue (KDOR) may award a film production credit based on the actual expenditures but will be limited to the amount of tax credit reserved by KDOC. No film production tax credits shall be allowed for any tax year commencing on or after January 1, 2013. The total amount of film production tax credits allowed shall not exceed $2,000,000 per tax year. Direct production expenditure means an expenditure incurred in the state of Kansas in the production of a Kansas film including: 1) payment of wages, fringe benefits or fees for talent, management or labor to a person who is a Kansas resident for purposes of the Kansas income tax act; 2) payment to a personal services corporation for the services of a performing artist, if: • the personal services corporation is subject to taxation under the provisions of the Kansas income tax act; or • the performing artist receiving payment from the personal services corporation pays Kansas income tax; and 3) any of the following provided by a vendor: • the story and scenario to be used for a film; • set construction and operations, wardrobe, accessories and related services; • photography, sound synchronization, lighting and related services; • editing and related services; • rental of facilities and equipment; • leasing of vehicles; • food or lodging; • airfare if purchased through a Kansas-based travel agency or travel company; • insurance coverage and bonding if purchased through a Kansas-based insurance agent; and • other direct costs of producing a film in accordance with generally accepted entertainment industry practice. Eligible film production company means a film production company that has received certification from the KDOC. Film means any film, video, commercial or television production, as approved by the KDOC, that is 30 minutes or less in length with an expected in-state expenditure budget in excess of $50,000, or that is over 30 minutes in length with an expected in-state expenditure budget in excess of $100,000. Film shall not include the following: news or current events programming; talk show; production produced primarily for industrial, corporate or institutional purposes, and for internal use; sports event or sports programming; gala presentation or awards programming; infomercial or any production that directly solicits funds; political advertisement; or production that is considered obscene. Film production company means a person that produces one or more films. SPECIFIC LINE INSTRUCTIONS Enter all requested information at the top of this schedule. PART A - COMPUTATION OF CREDIT LINE 1 – Enter total amount of direct production expenditures made by an eligible production company this tax year. LINE 2 – This percentage (30%) determines the maximum credit allowable by law. LINE 3 – Enter the lesser of the amount of the credit reserved by KDOC OR the amount on line 1 multiplied by line 2. This is the maximum allowable credit. LINE 4 – Partners, shareholders or members: Enter the percentage that represents your proportionate share in the partnership, S corporation, LLC or LLP. All other taxpayers: Enter 100%. LINE 5 – Multiply line 3 by line 4. This is your share of the total credit for the amount expended this year. PART B —COMPUTATION OF TOTAL CREDIT CLAIMED THIS TAX YEAR LINE 6 – Enter the carry forward amounts available from prior year’s K-86 schedule. LINE 7 – Add lines 5 and 6. LINE 8 – Enter the total Kansas tax liability for the current tax year after all previously claimed credits. LINE 9 – Enter the lesser of line 7 or line 8. Enter this amount on the appropriate line of Form K-40, K-41, or K-120. PART C —COMPUTATION OF CARRY FORWARD CREDIT LINE 10 – Subtract line 9 from line 7. This amount cannot be less than zero. Enter this amount on next year’s Schedule K-86. IMPORTANT: Do not send enclosures with this schedule, however keep copies of important documentation with your records. KDOR reserves the right to request additional information as necessary. TAXPAYER ASSISTANCE Address questions about qualifying for this credit to: Kansas Secretary of Commerce Film Commission 1000 SW Jackson St, Suite 100 Topeka KS 67504-0647 Phone: 785-296-2178 Website: kansascommerce.com For information and assistance in completing this schedule contact KDOR: Taxpayer Assistant Center 120 SE 10th Ave PO Box 750260 Topeka KS 66699-0260 Phone: 785-368-8222 Fax: 785-291-3614 Website: ksrevenue.org
K-86 Film Production Credit Rev. 8-19
More about the Kansas Form K-86 Corporate Income Tax Tax Credit TY 2023
We last updated the Film Production Credit in February 2024, so this is the latest version of Form K-86, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form K-86 directly from TaxFormFinder. You can print other Kansas tax forms here.
eFile your Kansas tax return now
eFiling is easier, faster, and safer than filling out paper tax forms. File your Kansas and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!
File Now with TurboTaxOther 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-4 | Employees Withholding Allowance Certificate |
| Form K-41 | Fiduciary Income Tax |
| Form K-120ES | Corporate Estimated Tax Payment Vouchers |
| Form 1041V | Fiduciary Income Tax Voucher |
| Form K-30 | Angel Investor Credit |
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-86 from the Department of Revenue in February 2024.
Form K-86 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-86
We have a total of eleven past-year versions of Form K-86 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form K-86
K-86 Film Production Credit Rev. 8-19
2022 Form K-86
K-86 Film Production Credit Rev. 8-19
2021 Form K-86
K-86 Film Production Credit Rev. 8-19
2020 Form K-86
K-86 Film Production Credit Rev. 8-19
2019 Form K-86
K-86 Film Production Credit Rev. 8-19
2018 Form K-86
K-86 Film Production Credit (Rev. 8-11)
2017 Form K-86
K-86 Film Production Credit (Rev. 8-11)
2016 Form K-86
K-86 Film Production Credit (Rev. 8-11)
2015 Form K-86
K-86 Film Production Credit (Rev. 8-11)
2013 Form K-86
K-86 Film Production Credit (Rev. 8-11)
2011 Form K-86
K-86 Film Production Credit (Rev. 8-11)
TaxFormFinder Disclaimer:
While we do our best to keep our list of Kansas Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.