Schedule K-59 provides an investment schedule and a carry forward schedule. Please read all directions before completing this schedule.
The High Performance Incentive Program (HPIP) provides for two types of credits: 1) Training and Education Credit [K.S.A. 74-50,132]; and, 2) Investment Tax Credit [K.S.A. 79-32,160a(e)]. Certification from the Kansas Department of Commerce (KDOC) is the initial requirement for either of the credits and must be maintained with your records.
Training and Education Credit. A qualified firm that invests in the training and education of its employees and pays higher than average wages is eligible to receive a tax credit. The credit is the amount of training and education expenditures that exceed 2% of the wages, limited to $50,000. The credit must be used in the tax year it is earned. There is no carry forward provision for this credit.
Investment Tax Credit. A qualified firm may be eligible to receive a 10% investment tax credit for investment in excess of $50,000 ($1,000,000 for the counties of Douglas, Johnson, Sedgwick, Shawnee and Wyandotte) in a Qualified Business Facility (QBF). This credit may be carried forward for the next 16 tax years as long as the firm is recertified in the tax year the carry forward is used. Schedule K-59 must be completed for each QBF in the initial year and, if necessary, for any carry forward year for each location.