Kansas Statutes 79-32,157. Same; termination and resumption of operation of qualified business facility; credit allowable, when
Terms Used In Kansas Statutes 79-32,157
- Facility: shall mean any factory, mill, plant, refinery, warehouse, feedlot, building or complex of buildings located within the state, including the land on which such facility is located and all machinery, equipment and other real and tangible personal property located at or within such facility used in connection with the operation of such facility. See Kansas Statutes 79-32,154
- Qualified business facility: shall mean a facility which satisfies the requirements of paragraphs (1) and (2) of this subsection. See Kansas Statutes 79-32,154
- Revenue producing enterprise: shall mean :
(1) The assembly, fabrication, manufacture or processing of any agricultural, mineral or manufactured product;
(2) the storage, warehousing, distribution or sale of any products of agriculture, aquaculture, mining or manufacturing;
(3) the feeding of livestock at a feedlot;
(4) the operation of laboratories or other facilities for scientific, agricultural, aquacultural, animal husbandry or industrial research, development or testing;
(5) the performance of services of any type;
(6) the feeding of aquatic plants and animals at an aquaculture operation;
(7) the administrative management of any of the foregoing activities; or
(8) any combination of any of the foregoing activities. See Kansas Statutes 79-32,154
- Secretary: means secretary of the Kansas department of revenue. See Kansas Statutes 79-32,278
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. See Kansas Statutes 79-3271
If a taxpayer has terminated the operation of a revenue producing enterprise at a qualified business facility prior to the expiration of the ten-year period during which a credit is allowed under Kan. Stat. Ann. § 79-32,153, 79-32,155 or 79-32,156, or amendments thereto, and later resumes the operation of the same or a different revenue producing enterprise at such qualified business facility, the taxpayer may, with the consent of the secretary of revenue, elect to claim a credit, upon resuming the operation of a revenue producing enterprise at such qualified business facility, computed in accordance with Kan. Stat. Ann. § 79-32,153, or amendments thereto, but for a number of years following resumption of such operations equal to 10 reduced by the number of years for which the credit was claimed prior to termination of operation of such revenue producing enterprise. The secretary of revenue shall grant such consent if it is determined that the termination of operations was due to reasonable cause and that the resumption of operations of a revenue producing enterprise at such qualified business facility will provide increased opportunities for employment and result in a substantial contribution to the economy of the state.