Frequently Asked Questions
Taxation - Corporate Income
Do I need to file a separate election
to be treated as a Subchapter S corporation?
No. If you are a Subchapter S corporation for income tax purposes,
you are automatically a Subchapter S corporation for Kansas purposes
and are required to file as a Subchapter S corporation except if
you are a bank, saving and loan or trust company.
Can a bank file as a Subchapter
S corporation for Kansas?
No. A bank, saving and loan or trust company having Subchapter S
status for federal filing purposes, is required to file the Privilege
tax return for Kansas.
Am I required to file a short period
return?
If you are required to file a short period return for federal income
tax purposes, you are also required to file one for Kansas.
I have applied for an automatic
6-month extension for federal. Do I need to file an extension with
Kansas?
Kansas accepts the federal extension of time. The Kansas due date
will be one month after the federal extended due date. The extension
of time is to file the return not pay the tax. 90% of the tax must
be paid by the due date to avoid late payment penalty.