Machinery & Equipment Expensing Deduction (Kansas)
Last modified on February 12, 2015.
|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|
|Program Administrator||Kansas Department of Commerce|
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.
|Contact Name||Barbara Hake|
|Department||Kansas Department of Commerce|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Machinery and Equipment Expensing Deduction|