Kansas DOR Issues Notice Regarding Changes in Research, Development Income Tax Credits

The Kansas Department of Revenue (DOR) Sept. 6 issued a notice on research and developments tax credits, for individual income and corporate income tax purposes. H.B. 2239 passed in 2022 amended the Kansas Statutes Annotated to increase and make transferable the credit for research and development activities. The notice provides the definition of “expenditures in research and development activities.” The DOR explains that the legislature amended the statute to: 1) increase the credit to 10 percent from 6.5 percent for tax year 2023 and all years thereafter; 2) remove a limitation that allowed only C corporations to claim the credit; ...