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Kansas Assistive Technology Contribution Credit

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Question
Kansas Assistive Technology Contribution Credit K-42

Answer

Beginning in tax year 2013, this credit shall only be available to corporations that are subject to the Kansas corporate income tax, i.e. C corporations. This credit shall not be available to individuals, partnerships, S corporations, limited liability companies, and other pass-through entities.

An income tax credit shall be allowed for any program contributor that makes a contribution to an individual development account reserve fund. 

The purpose of the individual development account program for assistive technology is to provide eligible families and individuals with an opportunity to establish special savings accounts for moneys which may be used by them to purchase assistive technology.

Qualifications

A program contributor must receive approval from Assistive Technology for Kansans.

For information about establishing an assistive technology individual development account (IDA), or making contributions, contact:

Assistive Technology for Kansas
2601 Gabriel
Parsons, KS 67357
800-526-3648
atk.ku.edu/

Credit Amount

The credit is 25 percent of the total amount of the contribution.

Limitation of Credit

The total credits authorized shall not exceed $6,250 in any fiscal year.


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Article Details
Views: 1255 Created on: Jun 15, 2013
Date updated: Jan 03, 2019
Posted in: States, Kansas

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