Machinery & Equipment Expensing Deduction (Kansas)

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Last modified on February 12, 2015.

EZFeed Policy

Place Kansas


   
Applies to States or Provinces Kansas
Name Machinery and Equipment Expensing Deduction (Kansas)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Kansas Department of Commerce
Primary Website http://kansascommerce.com/index.aspx?NID=459



Last Review 2014-09-15



Summary

Machinery and Equipment Expensing Deduction allows Kansas taxpayers to claim an expense deduction for business machinery and equipment, placed in service in Kansas during the tax year. The one-time deduction is allowed for each qualified purchase of machinery and equipment in the year that it is placed in service. The expensing deduction is representative of the difference between the cost of the item and the present value of the stream of depreciation deductions allowed under normal federal depreciation rules. Any unused expense deduction may be carried forward until fully claimed in future years. If the property is relocated outside Kansas or disposed of before the end of its federal depreciable life, the amount of the tax liability relieved by the deduction may be subject to repayment.



Policy Contact

Contact Name Barbara Hake
Department Kansas Department of Commerce
Division Business Recruitment




Phone 913-345-8347


Email rhake@kansascommerce.com
Website http://kansascommerce.com/index.aspx?NID=459
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Machinery and Equipment Expensing Deduction




















References