Kansas DOR Releases Corporate Income Tax Form K-53, Research, Development Credit, With Instructions

The Kansas Department of Revenue (DOR) July 1 released corporate income tax Form K-53, Research and Development Credit, with instructions. The instructions include: 1) for tax year 2023 and all tax years thereafter, the allowable credit is 10 percent of the amount by which the amount expended for qualifying activities in a taxable year exceeds the taxpayer’s average of actual expenditures; 2) the amount of credit allowable in any one taxable year is limited to 25 percent of the total amount of the credit, plus any applicable carry forward; 3) the amount of any remaining unused credit can be carried ...