The Kansas Research and Development Credit (Schedule K-53) allows taxpayers to claim a credit against their Kansas income tax liability for qualifying research and development expenditures conducted within the state of Kansas. This credit is governed by K.S.A. 79-32,182b and is available for expenses that are allowable for deduction under the federal Internal Revenue Code of 1986 and its amendments. Qualifying expenditures must be for research and development purposes and cannot include funds made available to the taxpayer under federal or state law.
Key Instructions for Schedule K-53
- Carryforward Information: Complete the carryforward section of Schedule K-53 by entering the required information for the original credit year, the amount of credit available from the original schedule, previously claimed carryforward amounts, and the remaining carryforward credit available, as instructed on the schedule.
- Supporting Documentation: Maintain records supporting the qualifying research and development expenditures and any carryforward credit claimed. Provide documentation if requested by the Kansas Department of Revenue.
How to File Schedule K-53 Electronically
- Complete Schedule K-53 and attach it to the applicable Kansas income, privilege, or premium tax return, as required.
- Enter all required credit and carryforward information according to the schedule instructions.
- Retain supporting documentation for the qualifying research and development activities and expenditures.
Source:
Kansas Department of Revenue - Schedule K-53 Instructions
Disclaimer: Always verify details with the official Federal or State Department of Revenue Forms and Instructions. For complex tax situations, consult a CPA or tax attorney.